CCIWA is joining industry and all sides of the West Australian political divide to step up the campaign for GST reform.
CCI will host a breakfast forum entitled “Join the fight to fix the GST” on 31 October that will bring together leaders in business, captains of industry and shapers of change to form Team WA.
CCI Chief Economist Rick Newnham said CCI was pleased to welcome WA Premier Mark McGowan, Fortescue Metals Group Non Executive Chairman and Chair of Minderoo Foundation Andrew Forrest AO and Social Services Minister Christian Porter as guest speakers of the event.
“Most West Australians believe we’re getting a raw deal on GST, with WA generating more revenue than any other state,” he said.
“Instead of being able to keep this revenue to build new hospitals and roads, or grow our tourism industry, it is siphoned off to prop up other states that have not forged ahead and developed their economy, as WA has done.
“In the past year alone, WA has lost $4 billion in GST.
"That’s enough to double the number of teachers in WA public schools, to provide private health insurance for every West Australian or to eliminate payroll tax in WA altogether.
“The $33.5b of GST that WA lost from 2000-2020 is also enough to extend the Mitchell Freeway north to Geraldton and south to Albany, for an underground rail network linking Perth Airport, Fremantle and Joondalup, or for Elon Musk to build a hyperloop from Perth to Alice Springs.
“This CCI-hosted event is an opportunity for every West Australian – no matter what industry you come from or what your political persuasion is – to come together as part of Team WA to say ‘enough is enough’ – the time is now to fix the broken GST.”
CCI was the only organisation to propose changing the GST calculation to partial equalisation to the national average, which has now been backed by the Productivity Commission.
“If implemented, this would have returned an additional $3.55b to WA in additional GST in the past year alone,” Newnham said.
“It would also ensure every Australian citizen continues to have access to the national average of public services, while incentivising individual states and territories to develop their own industries and grow the national economy.
“This means that reforming the GST isn’t just in WA’s interest, it’s in the interest of every Australian.
“The Productivity Commission’s recommendation is the most significant step forward in GST reform ever made and CCI has been proud to be part of leading the charge.”
CCI’s partial equalisation model has been supported by the Business Council of Australia and Minerals Council of Australia, as well as several state industry associations, representing more than 18,000 businesses.
►Join Team WA to fight for GST reform at CCI’s breakfast forum on 31 October 2017. Get your tickets here.