Bill Kelty’s tax reform comments cast a harsh light on Labor’s lack of ambition

The Guardian World

by Patrick Commins

February 23, 2026

AI-Generated Deep Dive Summary

Bill Kelty, a prominent figure in Australian politics and labor unions, has sharply criticized Labor's lack of ambition in addressing economic policies that disadvantage young Australians. Speaking during the Greens' parliamentary inquiry into capital gains tax, Kelty—a key architect of 1980s and 90s economic reforms—urged lawmakers to unequivocally show support for young people. His comments highlight growing frustration among younger generations who feel that economic systems are rigged against them. Kelty, a septuagenarian with a long history in labor and economic policy, used his platform to emphasize the urgent need for change. He pointed out that many Australians under 40 believe they are being left behind by an economy designed to benefit previous generations. This sentiment underscores a broader societal shift, where younger people are increasingly disenchanted with traditional economic models and political inaction. The inquiry into capital gains tax was dominated by Kelty's impassioned plea for leaders to take bold action. His remarks reflect a larger debate about inequality and intergenerational fairness. As wealth gaps widen and housing costs rise, young Australians face unprecedented challenges in achieving financial stability. Kelty's comments serve as a wake-up call, urging policymakers to address these issues before they deepen existing divisions. This issue resonates globally, as countries grapple with similar concerns about economic disparity. In Australia, it also raises questions about the future of Labor’s

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Originally published on The Guardian World on 2/23/2026