GST Redistribution More Costly to NSW Than COVID-19

Published on April 23, 2024

New South Wales (NSW) Treasurer Daniel Mookhey says the GST redistribution by the federal government will result in the state losing its AAA credit rating and cost them nearly $12 billion over the next four years—more than COVID-19 policies. The treasurer told the McKell Institute in Sydney that the changes will see the equivalent of 9,000 healthcare workers, 19,000 teachers, or 16,000 police officers go unfunded and will result in a significant fiscal setback. “This can’t continue,” Mr. Mookhey added before saying the move is “an absurd GST decision,” arguing it should be distributed based on a state’s population share. Mr. Mookhey said NSW will lose $11.9 billion (US$7.7 billion) over the next four years....

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