Prominent business leaders in Western Australia convened today to support the Cook Government’s campaign aimed at ensuring a fair share of the Goods and Services Tax (GST) for the state. The roundtable included representatives from major companies such as Fortescue, Hancock Iron Ore, and Wesfarmers, as well as industry bodies including the Chamber of Commerce and Industry WA and the Association of Mining and Exploration Companies.
This meeting occurs as part of a national initiative titled “WA’s GST is working for Australia,” which emphasizes the significance of Western Australia’s GST arrangements to the broader national economy. The campaign features targeted advertising designed to showcase how the state’s current GST deal benefits all Australians.
During discussions, attendees highlighted the necessity of maintaining WA’s 75-cent GST floor, a safeguard established by the WA Labor Government in 2018. This floor is crucial for ensuring the state can continue to contribute significantly to the national economy, given that WA is the most productive state, driven by a world-leading resources sector responsible for 45 percent of Australia’s exports.
The reforms initiated in 2018 have allowed WA to invest in vital infrastructure, including ports, roads, energy, and water supply, alongside social services that support regional communities dependent on these industries. If the GST reforms were to be reversed, WA would face a loss of approximately $6 billion annually, severely impacting its ability to fund hospitals, schools, and other essential services.
The roundtable’s outcomes led to the signing of an open letter by the business leaders, reaffirming their commitment to the current GST deal. They also urged the Productivity Commission to uphold the 75-cent GST floor. Insights gained from the meeting will guide the Cook Government’s submission to the Productivity Commission’s upcoming review of GST distribution.
The WA Government is actively encouraging public participation, inviting residents and organizations to submit their views directly to the Productivity Commission. For more details, individuals can visit www.wa.gov.au/gst.
Premier Roger Cook expressed the importance of the GST deal in diversifying the state’s economy, stating, “My government wants to diversify Western Australia’s economy so it remains the strongest in the nation. Keeping our fair share of the GST is crucial.” He emphasized the significance of the 2018 deal in allowing the government to invest in priorities such as quality jobs, housing, and healthcare.
Deputy Premier and Treasurer Rita Saffioti reinforced the notion that WA has emerged as the nation’s economic powerhouse, benefiting all Australians. “It is vital that WA fights to ensure that the legislated 2018 reforms to the GST system remain in place, so we can continue to invest and grow the industries that support our nation’s prosperity and create valuable jobs.”
The collaborative effort among industry leaders demonstrates a unified front, as they work together under the banner of “Team WA” to strengthen their voice in this crucial national conversation. While acknowledging the support from the Prime Minister for the continuation of GST reforms, Saffioti affirmed their commitment to ensure WA remains a key contributor to Australia’s economic landscape.
