A disappointingly lightweight NPC address let the federal treasurer Scott Morrison get way with saying that Oz national debt is relatively good, without any query at all about our private debt to GDP now being the highest in the world.

It was clear that state governments, some of whose coffers are brimming with the spoils of excessive stamp duties on residential property conveyances, are going to have to carry the can for tax reform.

That’ll be fine, as long as stamp duties (and part of their payroll taxes?) are abolished in favour of all-in flat rate land taxes.