Something is rotten in the state of Australia’s taxation system. Despite a litany of reviews at both the Commonwealth and state levels, which have well ventilated the core problems, major tax reform has been elusive. We are now saddled with an outdated economic framework that is inefficient and ill-suited to underpin Australia’s future prosperity.

That should not be lost on Treasurer Jim Chalmers when he convenes his economic reform roundtable next month. While Chalmers initially said he would not rule policies in or out, he and the prime minister have already downplayed the possibility of changing the goods and services tax.