Well, I guess that it is a political question rather than economics. When then PM John Howard introduced the GST, he agreed the entire net proceeds would go to the States and Territories as previously posted. Remember Australia is a Federation of States who agreed to form the Commonwealth in 1901? not vice versa. Never get between a State Premier or Chief Minister and a bucket of tax dollars, attributed to former PM Paul Keating. Don't be so naive as to ignore the real possibility of tax reform including the GST.
WDS Price at posting:
$24.16 Sentiment: None Disclosure: Held
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