Finance Finance News GST hike can’t pay for ‘everything’: Chris Bowen
Updated:

GST hike can’t pay for ‘everything’: Chris Bowen

Chris Bowen
Shadow Treasurer Chris Bowen bracing for a bitter week in parliament. Photo: AAP
Share
Twitter Facebook Reddit Pinterest Email

Opposition treasury spokesman Chris Bowen said it is unrealistic to consider lifting the GST as the linchpin of widespread tax reform.

Mr Bowen, who was speaking a tax reform summit on Tuesday, said a rise in GST wouldn’t be enough to pay for measures to boost Australia’s sluggish economy.

He also said increasing GST revenue has been touted as a way of paying states’ health costs, cutting personal income tax, abolishing stamp duty, reducing corporate tax or improving the federal budget bottom line.

• Abbott: this man (not Turnbull) badly misled you all
• Shorten wins more cheers than boos on Q&A

The GST had failed to meet its primary objective of eliminating inefficient state taxes, Mr Bowen also claimed.

And he warned that there was no way an increase could do everything suggested by the Coalition, NSW Premier Mike Baird and business groups.

“It’s like when you get a raise in your salary and you think of five things you’d love to do with the extra money,” Mr Bowen said.

“But deep down you know you can only do one.”

 

Comments
View Comments