Startups are a vital part of Australia’s economy. They drive innovation and commercialise essential research into medical devices and pharmaceuticals. They also enhance productivity and improve our health and welfare through medical breakthroughs.

Unfortunately, Labor’s plan to tax unrealised capital gains will take a sledgehammer to a sector that is vital to Australia’s productivity and growth. This is unfortunate: Growing the economy – and the tax base – is precisely how the government can afford to pay for nice things.