Grattan Institute modelling shows that, even after allowing for inflation, most workers today can expect a retirement income of at least 91% of their pre-retirement income – well above the 70% benchmark endorsed by the OECD, and more than enough to maintain pre-retirement living standards.
State and territory governments can do more to improve the lives of Australians. The State Orange Book 2018 shows that outcomes vary between states across a broad range of areas. In many cases, states are different because their governments adopted better policies.
The Turnbull Government’s proposed personal income tax cuts are the largest ever proposed in a federal budget. As is outlined in this submission, the substantial reduction in revenue is not obviously consistent with the government’s medium-term fiscal strategy.