Four titans of Western Australian business and industry have teamed up with CCIWA, ahead of a showdown over WA’s GST arrangements.
Nigel Satterley, Dr Andrew Forrest, John Poynton and Michael Chaney were central to the David and Goliath campaign in 2017, which secured a 75-cent floor in the state’s GST share.
The four business leaders have again joined forces to ensure the system works in the national interest, as the Federal Government reconsiders the GST distribution arrangements over the coming year.
They will sit on CCIWA’s GST Deal Defender Steering Committee, overseeing a coordinated national campaign to ensure WA is not short-changed on GST revenue.
CCIWA Chief Economist, Aaron Morey, said the threat to WA’s economy if the GST deal is wound back would be significant.
“Prior to the 2017 deal, WA had subsidised the other states to the tune of $36 billion since the GST was introduced,” he said.
“Those other states are desperate for WA to pick up the tab again.
“Having these four icons of WA business front and centre of the campaign, along with the WA government and other advocates, will help to drive home the oversized contribution our state makes to the rest of the country.”
CCIWA’s recent Consumer Confidence survey found that more than three in five West Australians were concerned about a potential cut to WA’s annual GST share.
Mr Morey said although the Prime Minister promised there would be “no change” to WA’s GST share, the Federal Government will come under immense pressure from other states.
“It’s vital that the Commonwealth recognises that WA’s strength is the nation’s strength,” he said.
“The GST revenue returned to WA as part of the 2017 deal has ensured our state can build the vital economic infrastructure that fuels our contribution to the nation.
“Roads, rail, power transmission and port infrastructure are all vitally important to getting WA’s resources to the world, and those returns flow back to all Australians, not just those of us in the West.
“This is just the start of our campaign. There’s plenty more to come.”
