It's a basic principle of tax design. Professor Garnaut said if you added up all of the opportunities for economic reform to reduce economic rents in Australia's economy, or to tax them efficiently and equitably, you'd have a "transformational economic reform program." To explain what they mean, they say Australia's states and territories could raise an extra $27 billion in …
Australia's government would be collecting $70 billion a year in revenue if the emissions trading scheme was still in place, economist Ross Garnaut says. He said Australia was increasingly dominated by powerful firms that were extracting "economic rents" from our economy and society. He said there had been an unprecedented increase in the share of national income going to profits …
Australia's economy has become increasingly dominated by powerful firms that are extracting "economic rents" from the system, economist Ross Garnaut is warning. "There have been big changes over the 21st century that greatly affect Australia's capacity to deliver rising standards of living to most people in a growing population," Professor Garnaut said. Professor Garnaut said "economic rent" referred to income …