Australia has a deficit dilemma, could means-testing wealth be the solution? | Insiders
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Dire budget deficits for years to come and stalling productivity growth are painting a bleak economic picture. Against this backdrop, a new policy idea has emerged: if Australia can't rely on productivity growth and tax reform to fix the budget blackhole, what about means-testing wealth? Peter Harris is the former chair of the Productivity Commission and now board director at the Policy Institute Australia. He told Jacob Greber for this week's Insiders On Background, means-testing wealth - including the family home - for welfare could fix the budget blackhole. 0:48 Welcome 1:36 Peter Harris 2:07 What is productivity? 5:00 Since the economic reform summit has anything changed? 7:18 Budget forecasts 8:30 'Home Truths: the case for rebalancing toward better means-testing' report 11:40 Should Australia means-test wealth for government payments? 14:54 Means-testing wealth for aged care, pensions, childcare and paid parental leave could save the budget $21 billion a year. 19:0
Tags: abc news, australian news, abc news indepth, documentaries, long-form journalism, Peter Harris, Productivity, Productivity Commission, Jim Chalmers, Budget 2026, Means-testing wealth, family home, Jacob Greber, Aged care, Aged pension, childcare, Paid parental leave
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