Aug 27, 2026 – 4.00pmFormer Productivity Commission chairman Gary Banks has rubbished Treasurer Jim Chalmers’ repeated claims his budget measures will boost stagnant productivity and living standards, arguing Labor’s higher capital gains tax penalises successful investments and has eroded Treasury’s credibility.Banks said Labor’s unproductive renewable energy rush, pro-union workplace changes, runaway spending on the care economy including the NDIS, and blowout in the size of the public service were heading in the opposite direction to the pro-productivity changes led by Chalmers’ political hero Paul Keating in the 1980s.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Ex productivity chair takes aim at Chalmers’ ‘credibility’ on tax
Former PC chairman Gary Banks has rubbished Treasurer Jim Chalmers’ repeated claims his budget measures will boost stagnant productivity and living standards.
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