Macquarie's 20% Protest Vote

I hope this is the biggest protest vote they've had since 2007. And there was no debate about this at the AGM because they didn't release the proxy position until after the debate. It's PR, it's poor process and I hope next year they released the proxies before the meeting starts as more and more companies are doing now. Tying tax brackets to CPI would neutralise that. It could be tied to the inflation goal of two to three percent. We have a very high tax progressive personal income tax system. We still massively undercook our GST. But I do agree with Adam that it is an automatic stabiliser. If you're having a boom and everyone's getting paid a