Originally published in The Conversation on May 15, 2013

Regardless of the result of the next election, the ALP will hold an inquiry into what went wrong. How on earth, they will ask, could a government presiding over low unemployment, low inflation, low levels of public debt and a triple A credit rating be seen as poor economic managers at a time when the rest of the major economies are struggling? And the answer they will find is a simple one. The government simply didn’t collect enough tax.

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