24 April 2023
IPA Submission To The Senate Finance And Public Administration References Committee Inquiry Into The Administration Of The Referendum Into An Aboriginal And Torres Strait Islander Voice
Dear Secretary IPA Submission to the Senate Finance and Public Administration References Committee inquiry into the Administration of the referendum into an Aboriginal and Torres Strait Islander Voice This submission has been prepared to share IPA research and analysis with the Senate Finance and Public Administration References Committee as it conducts its inquiry into the administration of the referendum into
17 February 2022
The Cut That Dare Not Speak Its Name
Recent calls for Scott Morrison to commit to tax reform are well made. But given his and his government’s track record, it might be best to leave the task to someone else. Given how the PM somehow allowed his efforts at ensuring religious freedom to turn into a debate about whether schools can expel students who are gay, it can only be
18 February 2021
Interest On Australia’s Massive Debt To Cost $64 Billion Per Year By 2030
Interest payments on Commonwealth debt could become the third-largest spending item in just 10 years, behind only health and income support for seniors, according to new research from free market think tank the Institute of Public Affairs. The interest payment on debt could consume 7.5% of the Commonwealth Budget and cost $64.1 billion by 2030-31. “High and growing levels of
19 October 2020
The Reserve Bank’s Great Gamble On Interest Rates
The fiscal path outlined in the federal budget will constrain monetary policy and undermine the stability of the Australian economy. The Reserve Bank of Australia will be forced to pursue expansionary monetary policy that will leave it impotent in the event of future economic headwinds. The RBA’s decade-long experiment with record low interest rates has created an economy that is dependent on low
30 March 2020
Brace for European Financial Armageddon
The Euro was heading for a crisis wrote Oliver Hartwich in the August 2019 of the IPA Review, and now it’s here, as he details in a new article (reprinted below) on what Europe now faces as a result of the Euro’s inherent flaws and subsequent mismanagement. Dr Hartwich is Executive Director of the New Zealand Initiative and a German
7 March 2019
Our Unproductive Approach To Growth
Australia has entered into a per capita economic recession for the third time in 28 years, according to figures released yesterday by the Australian Bureau of Statistics. The figures also show there have been 18 quarters in the past 28 years where per capita incomes have gone backwards. The 28-year yardstick is relevant because that is the time since Australia
18 April 2018
Four Problems With GST Redistribution And How To Fix Them
Our new research brief discusses Australia’s alarming GST problem. IPA research has found that the states that are responsible for contributing the most to the GST pool – New South Wales, Victoria, and Western Australia – have lost $87 billion to the other states and territories since its introduction, under the complex process known as “horizontal fiscal equalisation”. The Institute
10 January 2018
Commonwealth Should Hand Income Taxes To The States
“Australia’s tax system is broken and the Palaszczuk government is right to call for structural reform”, said Daniel Wild, research fellow with the free market tank the Institute of Public Affairs. Today the Palaszczuk government renewed calls for state governments to be given a share of the Commonwealth income tax. “The best reform would be to allow state governments to
11 December 2017
Time to End GST Redistribution
Horizontal fiscal equalisation attempts to address differing economic financial circumstances of the state governments by redistributing GST revenue according to an elaborate relativity formula. However, the equalisation mechanism is associated with a number of conceptual and practical problems. There is no justifiable rationale for jurisdictional equalisation, while in practice the process is riddled with uncertainty and complexity. As a consequence
11 December 2017
GST Redistribution Creating Fiscal Imbalance Between States
A new report released today by the Institute of Public Affairs reveals how GST equalisation is creating a class of winners and losers among the Australian states. The report, Time to End GST Redistribution, authored by Morgan Begg, reveals that over the life of the GST, Western Australia has lost $16 billion (22 per cent) of the GST revenue that
