The Ergas

Review

Henry Ergas’ review of Australia's Commonwealth, State, Territory and Local Tax System

An initiative of Malcolm Turnbull MP - Shadow Treasurer

Henry Ergas

Malcolm Turnbull MP

Henry Ergas

Henry Ergas is the Chairman of Concept Economics, an economics consultancy firm with offices in Canberra and Sydney. He is also an external Professor in the Faculty of Economics at Monash University, Melbourne and an Adjunct Professor in the Department of Economics at the National University of Singapore.

Henry worked as an economist at the OECD from the late 1970’s to the early 1990’s. At the OECD, he was responsible for a wide range of reports, including a major study on Structural Adjustment and Economic Performance (1987), which presented a comprehensive approach to microeconomic reform. During his time at the OECD, he taught economics at the Ecole Nationale de la Statistique et de l’Administration Economique in Paris and was a Fellow of the Centre for European Policy Studies in Brussels. After leaving the OECD, he taught at the Kennedy School of Government at Harvard University and at the University of Auckland, served as a consultant to the World Bank and the RAND Corporation, and was Visiting Economic Advisor to the Trade Practices Commission before establishing his own economic consultancy in 1997.

Terms of Reference

Ergas Review of Australia’s taxation system

Outcomes:

The Ergas Review will report on the state of taxation in Australia at all levels of Government. It will also outline the scope for reform, including practical approaches to tax reform to enable a fairer and more efficient tax system that enhances the prosperity and living standards of Australians.

The objectives to be pursued are:

To improve the efficiency and efficacy of the tax system as a whole;
To reduce the burden of taxation generally; and
To promote productivity growth and the international competitiveness of the Australian economy, so as to improve the living standards of all Australians.

The Review will involve all aspects of the tax system that are amenable to reform in the national interest.

This will involve an examination of taxation:

At the Commonwealth level, including but not limited to: income tax, company tax, dividend imputation, the goods and services tax, international tax, excises and customs duties, fringe benefits tax, revenue from any emissions trading scheme, capital gains tax, superannuation taxes, and resource rent tax; and
At the State and Local level, including but not limited to: transactions taxes, payroll taxes, property taxes, and gambling taxes.

In conducting the Review, Professor Ergas will consult widely, including through the release of public discussion papers and a tax reform conference. The Review will be completed by the end of 2008.

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Media Release

I have asked distinguished economist Henry Ergas to conduct an examination of the many taxes in Australia at various levels of Government and to report to the Opposition on options for reforming the tax system.

Today I release the terms of reference for the Ergas Review (see below).

The last major reform of Australia’s tax system was undertaken by the Coalition almost 10 years ago with the move to A New Tax System (the GST reform).

While those changes have worked well – and indeed, are now endorsed by the ALP which previously strenuously opposed them – it is important to periodically examine on a holistic basis the nature of our tax system.

This is all the more important as the world economy becomes ever more globally integrated, making it vital that our tax system be consistent with Australia’s international competitiveness.

The need to encompass, within our tax arrangements, the revenue and cost consequences of climate change policies is an additional significant factor making a review of the tax system timely.

In undertaking this study, Professor Ergas will consult widely, and host a Conference to advance our understanding of the strengths, weaknesses and opportunities for reform of the tax system.

Professor Ergas has a distinguished career as an economist both within Australia and overseas and will bring a great deal of economic expertise and experience to this important project. (His biography appears below.)

I have asked Professor Ergas to submit a final report of the Review later in the year.

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