Of course, when assessing the distributional effects of austerity packages, one would need to consider them from a dynamic perspective in interaction with behavioural responses by agents and structural policies that could influence the outcome. Among the better policies, on the revenue side, are eliminating certain tax expenditures, that tend to reduce progressivity of the personal income tax and are often distortionary for growth, and increasing property taxes (see below) (OECD, 2013d, Rawdanowicz et al., Other reforms, however, may entail trade-offs between equity and growth objectives.