The federal government has been urged to embark on major tax reform, including increasing the goods and services tax to help pay down massive debt from coronavirus relief measures, which were introduced to save the economy from the pandemic.The OECD wants Australia to increase the GST and unemployment benefits and review the RBA's economic forecasting
"In the medium-term, the new economic survey says that Australia has the potential to return to sustained growth if complementary structural reforms are undertaken." "In an environment of higher community transmission of COVID-19 and lingering uncertainty, the eventual recovery will remain gradual even when restrictions are eased."
With just about ever town I travel through with signs out offering jobs from unskilled, to skilled. Australia should have no unemployed. We just had to import a heap of workers from overseas to help take in farmers crops. So no we don’t need to increase dole payments.
OECD calls on Australia to raise GST. Problem is that it will adversely affect self funded retirees, who have no means of recovery from tax increases. Labor to its detriment at the last election, found out that tampering with the income of retirees will lead to election loss.
Josh not going to increase GST but I think Labour would!
Well I said since the pandemic began we would need to raise GST to pay for the handouts but I didn't it would be said until after the next election.
I can see the former happening but not the latter.
Read “Mathias Cormann calls on” … Pathetic reporting ABC.
the treasurer of the right wing says ZIP about raising unemployment benefits because they don't give a fxxx about the poor and vulnerable (& yes im aware of the rise in the benefit shortly by... $3.50 a week)
If we we're all in this together, then the WHOLE public dis-service wouldn't have raised it's salaries/wages. Once again, pollies in it for themselves. No matter what side of the fence they sit, liberal/labor etc etc, they all took the pay rises. How 'bout they all get $750/week
No problems….as long as they pay for it.
Abolish gst manipulation, fixed tax rate of 10%for all
Increase the tax-free threshold. That'd do us a solid.
Because australia doesn't have its own currency, it must recover the foreign cash that it handed out to its citizens last year. Oh, wait ...
OECD says increase GST *and* JobSeeker Fraudenburg says 'no to GST rise' but nothing about JobSeeker. Ignore it and it will go away 🤔
Bahahahaha the Crazy Lefties think money grows on trees and we never had to pay for the lock downs.
Tax big business..... lower political wages and pull in their perks
It's probably inevitable that GST will rise at some point but it ought to go in tandem with the introduction of universal basic income to replace all 'welfare' payments.
What politicians have taken a pay cut in support? NONE! LOL
Gee, here's a thought. Instead of making mid & lower wage earners pay (as always) via a GST rise, why not tax companies who get away with paying little or no tax? Why not tax 'religious' entities who pay no tax? Yeah, it was just a thought...
Increase GST Remove GST Input Credits
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OECD urges Morrison government to engage in genuine tax reformSky News host Jenna Clarke says the Australian Financial Review is reporting the OECD is urging the Morrison government to overhaul the GST, reduce its reliance on income taxes and develop a plan to pay down debt on the way out of the pandemic. Don't worry about changing anything they won't be there shortly thank God. Anyone smell Mathias Cormann's grubby little hands on this? 'Overhaul' means 'Increase', which the LNP have wanted to do for ages! Now they can say, 'We're simply following OECD recommendations!' No wonder they spent so much trying to get him into the Secretary General position. Sky news host opinion is not news
Source: SkyNewsAust - 🏆 7. / 78 Read more »
OECD says now is the time for a review of the Reserve BankFor the first time, the OECD says the RBA - which sets interest rates and guides economic policy - should be the focus of an independent review. swrighteconomy Better late than never. The whole monetary policy system has become a debt ponzi scheme. From the dutch disease of last decade to 0% interest rate, it just amplified capital misallocation especially in property and increasing the debt burden on younger and future generations. swrighteconomy For normal people, the OECD is recommending: PAYING independent bodies to prepare & review budgets INCREASE regressive taxation through GST DECREASE progressive income taxation INCREASE housing inaffordability through reducing barriers for the already rich. 1/? swrighteconomy Read the report out of disbelief. This is absolutely dishonest reporting from the . True bastardry misrepresenting the report for vested interests. 1/2
Source: smh - 🏆 6. / 80 Read more »
OECD says now is the time for a review of the Reserve BankThe RBAInfo would face its first independent review in 40 years under an OECD proposal, which says it is time to address the central bank’s failure to meet key economic targets in recent years and deal with long-term risks from the pandemic RBAInfo OECD Hmmmmm.... I wonder what THIS is all about? 🤔
Source: theage - 🏆 8. / 77 Read more »
OECD says now is the time for a review of the Reserve BankFor the first time, the OECD says the RBA - which sets interest rates and guides economic policy - should be the focus of an independent review. swrighteconomy Better late than never. The whole monetary policy system has become a debt ponzi scheme. From the dutch disease of last decade to 0% interest rate, it just amplified capital misallocation especially in property and increasing the debt burden on younger and future generations. swrighteconomy For normal people, the OECD is recommending: PAYING independent bodies to prepare & review budgets INCREASE regressive taxation through GST DECREASE progressive income taxation INCREASE housing inaffordability through reducing barriers for the already rich. 1/? swrighteconomy Read the report out of disbelief. This is absolutely dishonest reporting from the . True bastardry misrepresenting the report for vested interests. 1/2
Source: smh - 🏆 6. / 80 Read more »
Bankcards and $1 notes the norm last time RBA was reviewedIt’s 40 years since the RBA was part of any formal review. We had $1 and $2 notes in our wallets, the government set the maximum interest rate on our mortgages and the go-to credit card for all Australians was Bankcard, writes swrighteconomy | ANALYSIS swrighteconomy 'The OECD wants to strip the entire jalopy down to its parts.' OECD or Mathias Cormann doing L-NP work from a distance; whats the real goal - less independence and more govt. control.
Source: theage - 🏆 8. / 77 Read more »
OECD says now is the time for a review of the Reserve BankThe RBAInfo would face its first independent review in 40 years under an OECD proposal, which says it is time to address the central bank’s failure to meet key economic targets in recent years and deal with long-term risks from the pandemic RBAInfo OECD Hmmmmm.... I wonder what THIS is all about? 🤔
Source: theage - 🏆 8. / 77 Read more »