The Australian Taxpayers' Alliance today released a policy paper outlining five proposals for economic recovery in a post-COVID-19 Australia.
The ATA recommends:
- Deregulation: Use cuts to red tape as a fiscal stimulus to jump-start the economy post-COVID-19.
- Decentralisation of Power: Shrink the government back to its original size and put more power into the hands of the Australian people.
- Taxation: Implement structural tax reform and get rid of government waste caused by inefficient and costly taxes.
- Domestic Economy: Promote local manufacturing by making Australia globally competitive, not by instituting protectionism policies.
- Superannuation: Keep the increased superannuation flexibility and give Australians more power over their retirement savings.
"Through this plan, we aim to identify waste so that the government can contain the deficit -- without increasing the burden on taxpayers or harming the economy," ATA policy director, Emilie Dye said.
“Policymakers can use this crisis to pinpoint weaknesses in Australia's tax and regulatory systems and then use the current momentum to push real structural reforms.
"Australian politicians have a choice: they can tax more, regulate more, and otherwise expand their powers, or they can use this disaster to restructure our tax and regulatory codes and put more power in the hands of the people.
"COVID-19 has disrupted people's lives, the economy, and government coffers in ways no one could have predicted. Policymakers have had to institute dramatic changes. But as we ease back into normalcy, we cannot become compliant,” said Ms Dye. “An overly authoritarian government and a dangerous debt still threaten the Australian public. Australian politicians need to make smart reforms now.”
[Read the full policy here]
Emilie Dye commented on each policy point:
Deregulation: Use cuts to red tape as a fiscal stimulus to jump-start the economy post-COVID-19
“Cutting red tape can act as one of the most effective forms of fiscal stimulus. By reducing regulation, we can cut costs for both businesses and taxpayers.
“Regulation is the kryptonite of innovation. Businesses need all the strength they can get to recover from this crisis, and our government agencies need to focus all their resources on recovery.
“COVID-19 has revealed regulations Australia doesn't need, like restrictions on operating hours and redundant licenses that do not make consumers any safer. The state and territory government would be stepping backwards if they were to reinstate these archaic restrictions.”
Decentralisation of Power: Shrink the government back to its original size and put more power into the hands of the Australian people
“Australians have lost many of their fundamental rights during this crisis, and the state police departments have collected millions in fees for their governments. With on the spot fines and judge only trials, Australians have been treated like criminals who need to prove their innocence.
“We need to return to being a society that treats people as innocent until proven guilty. Australian's deserve to have their voices heard both in Parliament and in the courtroom.”
Taxation: Implement structural tax reform and get rid of government waste caused by inefficient and costly taxes
“Over the years, Australia has collected a cocktail of taxes, some of which are toxic to the economy. By cutting wasteful and inefficient taxes like the stamp duty, payroll tax, and the corporate tax, the government could spur economic growth and increase the tax take in other areas.
“To contain the debt, the government doesn't need to tax more; it needs to tax smarter.”
Domestic Economy: Promote local manufacturing by making Australia globally competitive, not by instituting protectionism policies
“COVID-19 uncovered the corpse of our manufacturing industry. Australia faced painful supply chain shortages that showed our nation's over-dependence on China.
“Instead of arguing for policies that would supposedly ‘protect’ Australian industry from foreign competition, we should make Australia globally competitive. Australian businesses don't have a fighting chance against foreign corporations, because we have handicapped ourselves with high taxes, unnecessary regulations, and inefficient bureaucracies.”
Superannuation: Keep the increased superannuation flexibility and give Australians more power over their retirement savings
“We can walk away from COVID-19 with a healthier, more resilient Australia, or the government can rigidly attempt to manage the lives and finances of every Australian. It's time we gave Australians power over and access to their own superannuation funds.
“Only individual Australians know best how to save and spend their own hard-earned money. Scott Morrison has temporarily allowed Australians to access up to $10,000 of their super tax-free. Let's make that change permanent.”
About the ATA
The Australian Taxpayers' Alliance is the nation’s largest grassroots advocacy group representing the everyday Australian taxpayer. Through our campaigns, we fight to oppose over-regulation, wasteful spending and burdensome taxes. ATA's mission is to transform our nation and build a better, freer, and more prosperous Australia.