Australia is a low tax country. If we were to collect the average amount of tax collected by OECD countries then this year, we would have to collect more than an extra $100 billion. Per year.
Thu 1 Feb 2024 15.00 AEDT
“Australia is a low tax country. If we were to collect the average amount of tax collected by OECD countries then this year, we would have to collect more than an extra $100 billion. Per year.”
On Wednesday, 31 January 2024, Executive Director at the Australia Institute Richard Denniss and Allegra Spender MP addressed the National Press Club for a debate on the Stage 3 tax reforms.
Prime Minister Anthony Albanese has decided that 'ramping up' is his go-to phrase to use about the Petroleum Resource Rent Tax (PRRT). The problem is that only one fossil fuel item is actually going up, and it’s not the PRRT. It’s the Fuel Tax Credit, a subsidy to the fossil fuel industry.
When things move quickly in politics, the less nimble players can find themselves exposed. Those who react slowly to the changing reality of energy politics in Australia are likely to face consequences.
Can you be as bad as Joe Hockey, who said poor people don’t drive, and suggested that the solution to the housing crisis was for young people to get a good job that pays money? Well, alas, the NSW Premier Chris Minns has now reached the Joe Hockey level of economic ignorance.
