Ken Henry, the former Treasury secretary, has declared that his 2010 tax review remains a viable reform package for the Albanese government, as tax overhaul returns to the national agenda ahead of next month’s productivity roundtable. Speaking at the National Press Club, Henry said every recommendation from the 1,070-page report—officially titled Australia’s Future Tax System Review—is still valid, though some ideas could be “sharpened up”.
The review, handed to the Rudd government, saw only its 40% mining super profits tax adopted, sparking a lobbying backlash and internal Labor conflict. Henry, now chair of the Australian Climate and Biodiversity Foundation, urged the government to embrace the full suite of measures, which he described as “broadly ready to go”. He also endorsed Graeme Samuel’s review of the Environment Protection and Biodiversity Conservation (EPBC) Act, warning that destruction of the natural environment poses an “existential threat”.
Henry called for a climate trigger in Labor’s nature positive package, requiring major projects to consider global warming effects, and suggested reintroducing a carbon tax—dismissed by Tony Abbott’s Coalition—calling it “the world’s best carbon policy”. He described the toxic algal bloom off South Australia as a “late warning” on ocean threats from human activity, urging federal intervention.
The former NAB chairman, who faced criticism during the banking royal commission, also linked environmental reforms to productivity gains. The creation of a federal environmental protection agency was delayed before the election due to concerns in resource-rich Western Australia, with Prime Minister Anthony Albanese pushing the issue into the new term. Henry’s speech drew a high-calibre audience, including former Reserve Bank deputy governor Guy Debelle and senior environment ministry staff.
