Economists welcome budget and reply, even if they don't like every policy
Economists have expressed mixed but generally positive views on the recent federal budget presented by Labor, highlighting its bold tax reform proposals. While some economists agree with the need for change, they also caution that not all aspects of the budget will be well-received by the public. The Coalition's response, which includes ideas like indexing personal income tax to inflation, has also sparked discussion about the future of Australia's tax system.
- ▪Economists praised Labor's budget for its bold tax reform program.
- ▪Chris Richardson emphasized the need for updating Australia's tax system after years of stagnation.
- ▪Ken Henry noted that a larger tax reform package is necessary to address intergenerational equity and housing issues.
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analysisFive economists share their opinion of Labor's budget and the Coalition's replyBy business reporter Gareth HutchensTopic:BudgetSun 24 May 2026 at 4:47amSun 24 May 2026 at 4:47amSun 24 May 2026 at 4:47amJim Chalmers has been praised by economists for presenting a bold tax reform program, even if they don't agree with every element of it. (AAP Image/Lukas Coch)abc.net.au/news/five-economists-share-opinion-on-labour-budget-and-reply/106691514Link copiedShareShare articleIt has been almost two weeks since the federal government released its budget.It had big ideas and big themes. A concerted media campaign is now being driven against some of the changes.Liberal leader Angus Taylor's budget-reply speech had some big ideas of its own.
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