The Chamber of Commerce and Industry WA (CCI) is joining industry and all sides of the WA political divide to step up the campaign for GST reform.
CCI’s Join the fight to fix the GST breakfast forum on 31 October will bring together leaders in business, captains of industry, and shapers of change, to form Team WA.
CCI Chief Economist Rick Newnham said CCI is very pleased to welcome WA Premier, the Hon Mark McGowan MLA, and Fortescue Metals Group Chairman, Andrew Forrest as our guest speakers.
“Most West Australians believe we’re getting a raw deal on GST, with WA generating more revenue than any other state,” Mr Newnham said.
“The issue is that instead of being able to keep this revenue to build new hospitals, roads, or grow our tourism industry, it is siphoned off to prop up other states who have not forged ahead and developed their economy, as WA has done.
“In the last 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 $33.5 billion 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 $3.55 billion to WA in additional GST in the last year alone,” Mr 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.”
To show support for GST reform, purchase your tickets here.
