Prime Minister Malcolm Turnbull has recognised the importance of common ground being reached on economic and social policy at two major reform summits held in Sydney in August and September 2015.
The first was the National Reform Summit held on 26 August 2015 and hosted by KPMG. Here the major leaders of our community – business, social services and the trade union movement – came together in an effort to find consensus and to map a route forward in terms of reform.
Nine tax reform principles were established at the National Reform Summit which are outlined in this publication – calling for action on key issues such as returning the budget to structural surplus over time and lifting productivity.
The second Summit held in Sydney on 22 and 23 September 2015, the AFR Tax Reform Summit, was sponsored by KPMG. Between these two important summits the Liberal Party elected a new leader on the evening of 14 September 2015. Malcolm Turnbull was sworn in as the 29th Prime Minister of Australia on 15 September. On the 21st September, Scott Morrison and Kelly O’Dwyer were sworn in as the 39th Treasurer and 12th Assistant Treasurer respectively. The Assistant Treasurer was also sworn in as the 16th Minister for Small Business and is one of the 21 members of Cabinet.
This publication explores key insights from the two summits, includes the results from a poll on the objectives of tax reform and potential next steps for reform with the Turnbull Government.