Exclusive: Shadow treasurer says Labor wants to make tax system more progressive but says Greens’ concept is ‘the wrong answer’

Labor will continue efforts to make Australia’s tax system more progressive but will not countenance adopting a universal basic income policy to address rising inequality, according to Chris Bowen.

The shadow treasurer will use a speech to a progressive thinktank in Sydney on Friday to lay down some policy markers in the opposition’s internal debate about economic policy for the next election, highlighting the importance of innovation, education and targeted regional interventions to address disadvantage.

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