CCIQ calls for release of Ken Henry report following 2010 Intergeneraitonal Report
4 February
Chamber of Commerce & Industry Queensland has today cautiously welcomed the 2010 Intergenerational Report, noting demographic and other factors will continue to pose substantial challenges for Australia's economic growth and long-term fiscal sustainability.
CCIQ President David Goodwin said the inherent ageing of Australia's population means that the proportion of retirees will continue to increase substantially, putting pressure on businesses, escalating in skills shortages and taxation issues.
"The demand for pensions, health care and aged care will increase," Mr Goodwin said.
"In addition, labour force participants are spending less time in the workforce and are less likely to be full-time employees - resulting in even more pressures on the existing system.
"Skills shortages will become an endemic problem for all Queensland employers.
"The tax base will also come under greater pressure as Australia's age dependency ratio (the ratio of those of working age to those not of working age) declines.
"The sustainability of the current taxation system is in serious question," Mr Goodwin said.
"For these reasons it is time to release the Ken Henry Report on Australia's Future Taxation System.
"The Government has highlighted its priority on improving Australia's productivity performance.
"As taxation policy will be a critical element in furthering this objective, the sooner all stakeholders can participate in the debate and canvass options the better."
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