"Tax collections have averaged about 21per cent of GDP over Labor's five years."
By contrast, they averaged 23.4per cent of GDP over the Libs' 12 years, and a remarkable 24 per cent over their last six years.
This is the basis for Swan's claim to be taxing us more lightly than Peter Costello did, and the numbers are on Swan's side.
The truth is that Costello was our highest-taxing
treasurer ever,
although for much of his time he tried to hide the fact by pretending the goods and services tax had nothing to do with the feds.
In 2004-05 and 2005-06 tax collection reached a record 24.2per cent.
Of course, although politicians often like to pretend everything that happens in the economy happens because they made it happen, the truth is that much of what happens is caused by factors beyond their control.
A big part of the reason the Libs' raised so much tax is that they presided over the first half of the resources boom, before the GFC.
And much of the reason Swan has taxed us more lightly is that some taxes haven't fully recovered from the GFC, the second half of the resources boom hasn't been as lucrative as the first, export
