Prosper Australia calls for bold action in the next Federal Budget after today’s pre-election budget delivered predictably cautious measures.
“Australians want a fair go economy, but this budget lacks the structural reforms needed to deliver it,” said Rayna Fahey, Advocacy Director at Prosper Australia. “We need to shift taxes off earned income and onto unearned wealth.”
“The next government must commit to a tax reform process during its term to transform how we collect tax in Australia. There is a broad consensus among economists, business leaders, and the community that Australian workers shoulder an unfair tax burden.”
“Economic boom times continue to pass us by as missed opportunities because our tax system isn’t fit for a modern economy. We should be learning from world leaders like Norway and Singapore, which understand value capture and design their tax systems accordingly.”
“Instead, Australia misses out on trillions in lost resource revenues while giving away billions in property incentives that drive up land prices.”
Prosper Australia urges the government to embrace real reform that ensures prosperity is shared by all.
For more information about Prosper’s vision for tax reform, visit our Tax Shift campaign.
Many of us can see that Australia at a Federal, State and Local government level is being governed by politicians who have almost a zero knowledge of economics and blindly follow directives presented by vested interest groups who have no intention of establishing proper democratic systems of governance by the people, for the people to the exclusion of major corporations. The international banking corporations took over control of all the money supply and credit control after our original Commonwealth Bank of Australia was sold off in two stages; first stage just before the Great Depression ofthe late 1920’s and second stage under the Hawke-Keating government. At the same time all State-owned & controlled banks were dismantled and integrated with the “Big Four” banks in Australia to ensure our population was sold into debt slavery.