28 of the 38 top economists surveyed by the Economic Survey of Australia want the GST top-up for one of Australia’s richest states scrapped.
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While Australia must make some hard choices to pay for services in the future, increasing the goods and services tax is just too hard.
Grattan Institute estimates point to deficits without end, growing with the need for greater spending on health, defence and natural disasters. We’ve presented the treasurer with 13 costed options.
Asked to choose the fairest ways to raise billions, half of the economists backed introducing inheritance taxes. Around a third chose winding back super tax concessions and increased resource taxes.
The Australian government’s spending on its biggest tax concessions has jumped 24% in the past year.
Going GST-free for six months would cost the budget $35 billion. Very little of it would be wasted.
Principais colaboradores
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Chief executive officer, Grattan Institute
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Lecturer in Economics, Monash University
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Deputy Program Director, Budgets and Government, Grattan Institute
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Fellow, Grattan Institute
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Professor, School of Economics, The University of Queensland
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Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra
