LatestGoods & Service Tax (GST) 29 October 2026
Costello Rejects GST Rise, Calls for Cuts
Former Australian treasurer Peter Costello, the architect of the 10% GST, says raising the tax would hurt the economy and argues Labour should instead trim government spending. He warns a higher GST would burden households and suggests cutting wasteful programs.
Peter Costello, who designed Australia’s 10% GST, argues that increasing the tax would damage the economy and push more pressure onto families. He says the Labor party should focus on cutting government waste rather than raising revenue.
- Raising GST would increase living costs for households.
- Costello urges Labour to identify and eliminate inefficient spending.
- He emphasizes fiscal responsibility over tax hikes.
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