5 days ago
Former Treasury assistant secretary claims Jim Chalmers' upcoming productivity roundtable ‘stitch up' ploy to raise taxes
A former Treasury official has called Treasurer Jim Chalmers' upcoming productivity roundtable a 'stitch up' which seeks only to 'reinforce' the Albanese government's economic strategies.
Former Treasury assistant secretary David Pearl said the Economic Reform Roundtable, set to take place on August 19 to 21, would be as ineffective as the 2022 Jobs and Skill Summit.
'I think this is a stitch up, just like the Labour Party's job summit. We had a job summit in 2022 and we had maximum unemployment,' he told Sky News Australia.
'It was really a ruse to get the union movement to re-regulate the labour market. To the cost of all of us and next week's summit will be no different.'
Mr Pearl said none of the 'fundamental shibboleths' of the government's economic policy would be questioned when the roundtable kicks off next week.
'Net zero won't even be mentioned, apart from looking at ways to rip up environmental regulations to allow wind and solar to be further rolled out across the land,' he said.
'There won't be any discussion about industrial relations reform because (Australian Council of Trade Unions Secretary) Sally McManus and three other unionists will veto that and there won't be any discussion about how to control government spending.
'It'll just be about increased taxes.'
Mr Pearl said the upcoming summit would take place 'under the guise of productivity and growth', but would only seek to reaffirm the Albanese government's economic outlook.
'(The Economic Reform Roundtable) will reinforce and seek a consensus in favour of the fundamental economic strategies of this government, which I think most voters have seen are not delivering higher living standards and growth,' he said.
Last month, Mr Pearl said the capital gains tax rate could be doubled following the government's brainstorming session, with dividend imputation and negative gearing also potentially coming 'under the gun'.
'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 added 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.
In his National Press Club address in June, Mr Chalmers said 'no sensible progress' on productivity or budget sustainability could be made without proper consideration of 'more tax reform'.
