One aspect of the taxation of banking products crept into Australia's election debates yesterday, courtesy of a discussion paper from PricewaterhouseCoopers on tax reform.One proposal from PwC's panel of business and NGO leaders is that income earned on savings should take into account inflation."The tax system should not treat one form of savings more preferably than another [and] tax systems should avoid the double taxation of saving that occurs when income or earnings are taxed before savings, and then taxed again on earnings generated from those savings (in the form of interest payments) without any allowance for inflation," they wrote. One member of a second panel of tax experts was Stephen Green, a former head of tax at ANZ.