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Labor locks in 70 cent floor to give WA a fair share of the GST



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THE HON. BILL SHORTEN MP LEADER OF THE OPPOSITION

SHADOW MINISTER FOR INDIGENOUS AFFAIRS & ABORIGINAL AND TORRES STRAIT ISLANDERS MEMBER FOR MARIBYRNONG

CHRIS BOWEN MP SHADOW TREASURER

ACTING SHADOW MINISTER FOR SMALL BUSINESS AND FINANCIAL SERVICES MEMBER FOR MCMAHON

LABOR LOCKS IN 70 CENT FLOOR TO GIVE WA A FAIR SHARE OF THE GST

A Shorten Labor Government will guarantee Western Australia gets its fair share of GST funding, locking in a 70 cent GST floor for Western Australia funded by the Commonwealth.

Labor recognises that West hasn’t been getting a fair share of GST funding - that’s why we announced the Fair Share for WA Fund last year - to directly address the shortfall.

Malcolm Turnbull and WA Liberals have taken Western Australia for granted - saying one thing out West, and another in other states and territories. Turnbull has broken his promise to deliver a floor, instead giving only token payments worth only 3 cents in the dollar on a year by year basis with no certainty around future funding.

On the basis of updated parameters, Labor’s Fair Share for WA Fund will give Western Australia certainty around its future with a total of $2 billion in funding from 2019-20 to 2022-23. This will continue to be exempt from Commonwealth Grants Commission assessments.

And this funding is additional to the infrastructure funding included in the 2018-19 Budget.

Labor is acting, while the Government is keeping secret the findings of the Productivity Review into GST distribution.

Labor’s policy does not change the current GST formula. We will consider the Productivity Commission review findings when they are released by the Treasurer, but we are ending the cross-country argument over winners and losers, and ensuring every state gets the support they deserve.

We will help Western Australia without hurting the eastern states - with more money and more certainty for the future.

Federal Labor will now work with the Western Australian Government and Premier, Mark McGowan, to finalise the investment priorities for the Fund to build a brighter future for the West.

Federal Labor is able to make this investment as a result of policy announcements that make our tax system fairer and improve the budget position. This includes not supporting an $80 billion giveaway to the big end of town, including $17 billion gifted to the big banks.

Only Labor is committed to giving Western Australia a fair go, a fair share of the GST and fair funding for local jobs, and better roads, hospitals and rail.

WEDNESDAY, 13 JUNE 2018

MEDIA CONTACT: LEADER’S OFFICE MEDIA UNIT - 02 6277 4053

Authorised by Noah Carroll ALP Canberra