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Chalmers has never met a tax he didn’t like

By Graham Young - posted Thursday, 12 March 2026

Australia has one of the least diverse economies in the world. Chalmers is about to make it harder for the mining industry we rely on to attract capital, at the same time as he makes it harder for the new industries that might replace the rivers of cash from iron ore, gold, and coal.

Increasing CGT will do less than nothing for productivity and is only ‘necessary’ because the government refuses to live within its means.

It looks attractive because it is assumed to only penalise greedy capitalists. Look more closely and it will penalise almost all of us.

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This article was first published in The Spectator.

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About the Author

Graham Young is chief editor and the publisher of On Line Opinion. He is executive director of the Australian Institute for Progress, an Australian think tank based in Brisbane, and the publisher of On Line Opinion.