| Abstract: | A key issue of taxation policy since the 1980s is how governments can raise sufficient revenue for social protection and redistribution and to respond to the needs for public spending associated with rapid economic integration. A unique aspect of Australia's federal finance arrangements is horizontal equalization. This paper examines its origins in the federation debates and draws parallels between Australian economic history and the current experience of globalization. It assesses the impact and implications of the neoliberal transformation of the 1980s and 1990s on key institutions of Australian public finance, and suggests possible principles and solutions for tax policy in the twenty–first century. |
