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The independent member for Wentworth, Allegra Spender, asks Jim Chalmers:

Australians wants the government to focus on the long-term, the new cycle. They understand we need economic reform because the present arrangement is unsustainable. The past government has not delivered that for long-term growth and prosperity. With $1tn of debt, high inflation and low productivity, the choices have only gotten harder. When will we see a real tax and spending reform agenda from this government?

Chalmers:

It is true, that governments are called to deal with the long-term opportunities in our economy and at the same time as we deal with some of the nearer term pressures as well.

And if you think about the 2020s as Australia’s defining decade and how we set ourselves up for another generation of respect the like that which was delivered by the reform agendas of the 80s and 90s, will need to be thinking about how do we manage the big shifts when it comes to the energy transition, how do we manage data and digital shifts and the opportunities there, how do we make sure that we’ve got the workers that we need for the care economy and the services of economy, how do we broaden and deepen and diversify our industrial base in ways that so many of the cabinet ministers over here are engaged in.

And so, it is crucial right now, in the 2020s that we have the capacity to work in the longer term agenda while we deal with this inflation challenge in our economy.

The National Reconstruction Fund is part of our efforts, the safeguard mechanism is part of our efforts, there has in Australia Future Fund, part of our efforts, all these things which are before the parliament will help determine whether we succeed in the 2020s and into the 2030s, whether we can reform and change our economy so that we are managing the ships in the economy that maximising the opportunities that flow from those changes at the same time and we do need to be able to do that while we deal with this near-term inflation challenge in our economy in ways that are outlined in the answer to other question.

When it comes to tax reform, which I understand was the main feature of the member’s question, we are reforming the tax system in modest, methodical but meaningful ways. When it comes to superannuation, tax concessions, when it comes to aligning the off-market and non-market treatment of share buybacks. When it comes to multinational tax reform, one of the key thing that we discussed with international partners at the G20 and on other occasions as well. And these tax reforms, these modest, methodical but meaningful changes to our tax system will make our budget more sustainable over time and it will make a more sustainable than it would be without these tax changes.

And in addition to that, we do have the whole bunch of other priorities when it comes to our economic plan, fixing our supply chains, lifting the speed limit on the economy so we can grow without adding to inflation, tax is part of the but it’s not the only part of that. I look forward to working closely with the crossbench, the member for Wentworth and with anyone who understands that we’ve got a big opportunity in this country to turn the difficulties of the last few years into immense opportunities for our country and more importantly, its people. Economic reform is part of that and we are up for it.