The Coalition tax package that was due to pass through the Senate last night is not some neo-liberal experiment in trickle-down economics designed to reward the big end of town. But it will still help define Australia’s direction in the world. It marks the end of Labor’s push for a high-taxing and high-spending economic model more typical of slow-growth Europe. Instead, it directs Australia’s income tax system towards the incentive and enterprise needed to help Australian businesses sustain a high-wage economy that can compete in the global economy.