The increasing cost of healthcare in the context of an ageing population, is a precipitating factor in this debate. The substantially reduced tax collections from mining revenues and the overall depressed economy, especially in South Australia, are critical elements.
“The federalstate financial system is in imminent danger of tumbling over a fiscal cliff,” Mr Baird wrote in an opinion piece for The Australian newspaper.
Mr Weatherill responded by acknowledging Australia’s health system would not be viable into the future without increased revenue, and he said significant change to GST would be needed.
The Prime Minister Mr Tony Abbott has welcomed the constructive approach of New South Wales and South Australia. “Obviously, if there is a problem with revenue it can’t just be the Commonwealth’s responsibility to solve,” Mr Abbott said, and added that both leaders had shown the “maturity to rise above short politics and to look at the big issues”
In the space of 2 weeks several of my predictions (made before the May 2015 Federal Budget) have been shown to be accurate. This is not the end of it. I have been warning about the increase in GST for some time now – see Chapter 8 of my free special report Top 10 Estate Planning Predictions. What else is coming?
Fore-warned is fore-armed.
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