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The Times

you need more tax, working out how much more is urgent

  • Written by Michael Keating, Visiting Fellow, College of Business & Economics, Australian National University
you need more tax, working out how much more is urgentShutterstock

The new government has inherited an extraordinarily difficult budget situation.

The budget deficit amounts to 3.5% of gross domestic product this financial year and it will be almost as high next financial year at 3.4%, after which the budget papers project deficits for the entire ten-year forecast period.

At the same time, the...

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