'Assault on investors': Labor's Economic Reform Roundtable predicted to leave Australia worse off
Mr Pearl said the capital gains tax rate could be doubled following the government's brainstorming session, as well as dividend imputation and negative gearing coming 'under the gun'.
The former Treasury official said he believed the Albanese government had already made a decision on the measures and outcomes of the meeting as it would not risk being 'spontaneous'.
'The outcomes will be already developed by now. This is just a show. Jim Chalmers and Albanese are from a school of political management that doesn't tolerate any spontaneity or any surprises or any real discussion in this so-called roundtable,' he said.
Mr Pearl said he thought the government would revert to Bill Shorten and Chris Bowen's 'disastrous 2019 assault on investors'.
'I think under the gun will be the capital gains tax discount. So we could see a doubling of the capital gains tax rate with no grandfathering,' he said.
'We could also see negative gearing, which for asset-poor people, for nurses and tradies who are buying their first home, is critical to reduce interest costs. That will be under the gun.
'And I think we'll also see a renewed assault on dividend imputation.'
The Economic Reform Roundtable will take place on August 19 to 21 and places emphasis on global uncertainty causing economic disruptions to productivity and budget sustainability.
In his National Press Club address last month, Treasurer Jim Chalmers said 'no sensible progress' on productivity or budget sustainability could be made without proper consideration of 'more tax reform'.
The Treasurer said the roundtable in August was a 'well-time opportunity' to shape the direction of long-term reform.
'Participants will have a meaningful and influential role and a proper say,' he said.
'It's a genuine attempt to find common ground if it exists, in the service of our shared national economic interest.'
Mr Chalmers said a mix of about 25 government, business, union and civil society representatives and experts will sit in the Cabinet room and brainstorm the Albanese government's 'targeted agenda'.
'We won't come at this from an ideological point of view but from the practical, pragmatic and problem-solving middle ground we're most comfortable on,' the Treasurer said.
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