Shadow Treasurer Rob Lucas says the latest Federal GST figures reveal that a Rann Government already awash with funds will get a further unexpected GST bonus of $170m over the period up to 2007-08.
“At the time of last year’s State Budget the Rann Government estimated that South Australia would get a GST bonus of $651.7m for the period up to 2007-08,” Mr Lucas said today.
“This estimate compares what we get from the GST deal with what South Australia would have received from the pre-GST deal.
“However, earlier this month the latest GST figures were released showing that South Australia’s GST bonus would now be $821.9m, which is an increase of $170.2m when compared to the Rann Government’s estimate in last year’s budget.
GST bonus ($m) (est May 04) (Column 2)
GST bonus ($m) (est May 05) (Column 3)
Unexpected GST bonus ($m) (Column 4)
04-05 120.5 160.2 39.7
05-06 105.0 160.9 55.9
06-07 171.9 217.8 45.9
07-08 254.3 283.0 28.7
Total 651.7 821.9 170.2
“It is interesting to note that Kevin Foley has made no public statement about this unexpected GST bonus, as he is obviously not keen to draw attention to the fact the State Budget is now swimming in increased revenue from the GST and property taxes,” Mr Lucas said.
During the last state election campaign, Mike Rann made specific promises not to increase taxes:
“None of our promises will require new or higher taxes and charges and our fully costed policies do not contain provisions for new or higher taxes and charges.”
Mike Rann, 18 January 2002
“Rann and Foley are now the highest taxing Premier and Treasurer in South Australia’s history thanks to the property boom and broken promises not to increase or introduce new taxes and charges, and this GST bonus shows that South Australia still has the capacity to provide further targeted relief to long-suffering South Australian taxpayers.”