Yesterday the Government released the 2015 Intergenerational Report (IGR) which projects what the Australian population, economy, and budget could look like in 40 years. The report forecasts increasing strain on a range of public services as the demographic and life expectancy of Australians continues to change, as well as a need to curb spending and the level of government debt. The report indicates that continued steps to boost productivity and encourage higher workforce participation will be critical to driving economic growth and in this respect sets the scene for reforms to the tax system with the forthcoming review of the tax system expected to consider the competitiveness of Australia’s tax system, consistent with the Government’s aim for a better tax system that delivers taxes that are lower, simpler and fairer. See also the Treasurer's Ministerial Statement on the report.