What is the OECD's recommendation for Australian housing?

The OECD suggests increasing social housing supply and reforming property taxes by replacing stamp duties with a land tax.

How can Australia's economy be improved according to the OECD?

The OECD recommends broadening the GST, implementing expenditure restraint, and adopting ambitious social housing and emissions targets.

What does the OECD say about Australia's emissions targets?

Australia is broadly on track but needs further efforts in transport and agriculture to reduce emissions and carbon intensity.

Home / Business and Economy / OECD: Broaden GST, Cut Emissions Now!

OECD: Broaden GST, Cut Emissions Now!

22 Jan

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Summary

OECD urges Australia to expand GST and implement tax reforms.
Calls for more action on greenhouse gas emissions reduction.
Advocates for ambitious social housing targets and land tax reform.

The OECD's latest survey indicates Australia's economy is stabilizing after post-pandemic struggles, with growth projected to exceed 2% in the coming years. However, the organization highlights persistent issues like slow productivity growth and high housing costs.

The OECD recommends broadening the Goods and Services Tax (GST) and potentially increasing its rate, suggesting this could boost the economy by 1.6% within a decade. It also calls for expenditure restraint and revenue-enhancing tax reforms to improve budget sustainability.

Furthermore, the OECD presses for more ambitious social housing targets and a shift from stamp duties to a land tax. While Australia is nearing its 2030 emissions reduction goals, further efforts are needed, especially in transport and agriculture, to address high per capita carbon emissions.

This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.