Prime Minister Anthony Albanese has made it clear: he’s all for lower taxes and higher wages, but increasing the GST is not on the table.
Speaking at the Australia Economic Outlook event in Sydney, Albanese emphasized his commitment to progressive taxation, stating that consumption taxes, like the GST, are regressive by nature and don’t align with his agenda.
A Boost for Income Taxes, But No GST Hike
When asked about potential income tax cuts, Albanese showed willingness to discuss the idea, saying he’s always in favor of lower income taxes and higher wages.
“I always want to see income taxes as low as possible and wages as high as possible,” he said, highlighting that his government has already reduced the top marginal tax rate – a feat the previous government failed to achieve in ten years.
Trump and Tariffs: No Further Relief for Now
The Prime Minister also addressed the topic of US President Donald Trump’s next tariff Liberation Day, stating that he expects Australia to maintain its 10% baseline tariff and doesn’t foresee any further relief in the near future.
Albanese expressed confidence in maintaining a constructive dialogue with President Trump, citing Australia’s participation in various forums with the US.
No matter the outcome, Albanese emphasized that Australia’s 10% tariff level is a benchmark for other countries.