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Former Liberal MP calls for radical overhaul of income tax system

Former Liberal MP and economist Peter Hendy says Australia’s failure to raise the GST could see Malcolm Turnbull lose the next election.

In his new book Why Australia Slept, Mr Hendy says the government must make radical changes to the tax system, including substantial personal income tax cuts, social welfare compensation and the abolition of inefficient state taxes.

And he says it can all be funded by raising in the GST.

The Executive Director of the Australian Chamber of Commerce and Industry speaks with Ross Greenwood about the way forward for the government and the country.

“It looks at the current economic challenges. Like you said, we have a productivity issue.”

Is Malcolm Turnbull the man to make these changes?

“Malcolm Turnbull is pro-market, pro-business. I know he’s described by some people as left wing and all that but he has a very good understanding of economics.”

Click PLAY below for the full chat