Ms Spender will release the first in a series of tax white papers with an address to the National Press Club on Wednesday, setting out a vision for tax reform to boost productivity and tackle intergenerational equity.
The first white paper will focus on the personal tax system and how younger workers are increasingly relied upon to bear a larger share of the tax burden as the population ages.
Meanwhile, those who earn income from assets typically pay a smaller proportion of tax, despite tending to have far greater wealth, thanks in part to the housing price boom that has left home ownership a distant prospect for young Australians.
A former consultant with an economics degree from Cambridge, Ms Spender has been outspoken about the issues plaguing Australia's tax system, helping push Treasurer Jim Chalmers towards reform.
Following his economic reform roundtable in 2025, of which Ms Spender was the only crossbench attendee, Dr Chalmers directed Treasury to look at reforms that will make the system fairer for younger Australians and boost productivity.
Paring back the capital gains tax discount and negative gearing concessions for property investors are some of the measures being considered ahead of the May 12 budget.
The treasurer hosted a gathering of market economists, including CBA's Luke Yeaman, Westpac's Luci Ellis and Challenger chief economist Jonathan Kearns, on Friday for a discussion about the economy and the budget.
While he declined to talk about Friday's discussions, Dr Kearns told AAP the treasurer had a tricky task ahead of him if he wanted to achieve his tax reform goals while not leaving the budget worse off.
To get major tax packages through, governments have historically had to "buy off" the losers, which means they have tended to lose revenue.
That's something Labor can't afford right now.Â
Deficits are projected for at least the next decade, even though inflation is running hot, which means the government should be targeting a balanced budget or a slight surplus, the former RBA official said.
Considering those competing priorities, cutting government spending from its historically high level should be part of the conversation to allow for tax reform while getting the budget in better shape, Dr Kearns said.
