The missing piece of the audit puzzle

Though it is hardly the commission’s fault, focusing merely on spending ignores half the issue faced by Australia. And that creates a significant problem.

The most glaring problem with the Commission of Audit is what they didn’t cover: revenue. A strong assumption for tax receipts suggests that even with the range of reforms suggested by the commission, the federal government will fail to reach its goal of a surplus of 1 per cent of nominal GDP by 2023/24.

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