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The AFR is living in the past.
But political focus on an unequal, unfair tax burden conveniently deflects attention from the Albanese government’s quiet achiever status as a high taxing, high spending government.
Tax as a percentage of GDP will go up next year to 23.8 per cent and stay there the following year. This also ignores the lack of any substantial reduction in government spending – still growing at 4.3 per cent in real terms this financial year.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.