The Turnbull government and its PR machine, the Australian Financial Review, are going out of their way to ignore slowing emerging evidence of a rethink among some of our major trading partners. Crikey pointed out earlier this week that the tax debate in Britain is slowly moving towards reform by raising taxes -- either value added tax or income tax, including corporate tax. The debate has been ignored by Federal Treasurer Scott Morrison, the PM and the AFR.
On Monday the government of Singapore went further. In its 2018 budget, it committed itself to lifting a number of taxes, led by raising the country’s GST 2 percentage points to 9% to cover expected recurrent expenditures, “sometime in the period from 2021 to 2025”. Finance Minister Heng Swee Keat said that the exact timing of the rise would depend on the state of Singapore’s economy, expenditure growth and tax income, but he expects that it will be done "earlier rather than later in the period".