Former Treasury Secretary Warns Young Australians of Economic Inequality and Environmental Crisis

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Ken Henry, the former Treasury secretary, criticized Australia’s tax system for perpetuating intergenerational inequality at the Per Capita tax summit in Melbourne. He warned that younger workers are being “robbed” by fiscal policies that result in higher taxes, despite falling real incomes. Henry stated that recent governments have committed “wilful acts of bastardry” that leave young Australians facing escalating education costs, declining home ownership prospects, and the impact of climate change.

During his speech, he stressed that the tax system disproportionately burdens young people while benefiting older generations. He called for substantial reforms, including broadening the Goods and Services Tax (GST), revising payroll taxes, and implementing a carbon tax on fossil fuel exports. Referring to the current political leadership, Henry claimed they prioritize self-interest over future prosperity, jeopardizing the well-being of subsequent generations.

Henry’s remarks come amidst growing concerns over inequality in Australia, with many advocating for a more equitable fiscal framework to support the younger population and address environmental degradation.

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