The WA Opposition has indicated its willingness to take on one of Western Australia’s most counterproductive taxes. Shadow Treasurer Dean Nalder’s signal today that there is a need to reform stamp duty is strongly welcomed by the Chamber of Commerce and Industry WA.
This is one of the centrepiece tax reform recommendations of the CCIWA Recovery Reform Roadmap and a key issue of priority raised by WA businesses. Scaling back and replacing inefficient taxes with broad-based taxes like land tax would take the handbrake off our economy.
Our State’s greatest imperative during the recovery from COVID-19 will be to make businesses stronger, and our economy more competitive and better positioned to create jobs.
The WA Opposition’s signal is a step in the right direction and marks the first time a major party in our State has been willing to take up this bold reform proposal. Importantly, the Shadow Treasurer has also highlighted the importance of cutting energy costs for businesses and reducing red tape.
As Federal Treasurer Josh Frydenberg has warned, Australia will need to unleash the power and dynamism of the private sector to lead job-creation and economic growth in order to recover. Our economic engine does not currently have the horsepower to drive us forward with strength. The reforms outlined in CCIWA’s Roadmap offer a generational choice, and Western Australians can be encouraged that a major party has shown readiness to tackle these hard but critical issues.
Opposition Leader Liza Harvey and Shadow Treasurer Dean Nadler deserve credit for confronting tax reform, the number one measure that the business community has called for to strengthen the WA economy. CCIWA looks forward to continuing the drive for critical reforms that will bolster and sustain WA’s economic revival.
The full CCIWA Recovery Reform Roadmap can be found here.