Western Australian business leaders have met to support the state government’s fight to protect its Goods and Services Tax (GST) deal.
The roundtable was held on November 26 to discuss the importance of retaining the state’s GST deal.
Representatives from some of the nation’s leading industries, including Fortescue, Hancock Iron Ore, CBH and Perdamon, as well as industry bodies, met amid a national campaign titled ‘WA’s GST is working for Australia’.
Western Australia is seeking to maintain the state’s 75 cent GST floor, secured by the state government in 2018.
The federal government’s Productivity Commission is now examining how GST revenue is shared between states and territories, and whether alternative arrangements would achieve better outcomes.
Western Australia Premier Roger Cook said: ****”My government wants to diversify Western Australia’s economy so it remains the strongest in the nation, which is why keeping our fair share of the GST is so important.
“Our government fought hard for the GST deal in 2018. It has been critical to helping our government invest in and meet our priorities of ensuring every Western Australian has a quality job, a home, and access to the healthcare they need, when they need it.”
The state government says that if the 2018 reforms are unwound, it would take about AU$6 billion per year from the state’s economy, undermining the government’s ability to invest in critical economic infrastructure that drives the national economy.
Following the roundtable, business leaders have signed an open letter affirming their support for WA’s GST deal and urging the Productivity Commission to maintain the GST floor.
The insights from the roundtable will further inform the state government’s submission to the Productivity Commission’s upcoming review of the GST distribution.
