There is rising support among the business community for increasing or broadening the GST.
A survey by the Committee for Economic Development of Australia shows businesses want long term policy solutions from the federal government rather than blunt cuts.
The top four priorities for the federal government should be enhancing productivity, improving competitiveness, encouraging innovation and reforming taxation, according to 2014 Big Issues poll.
There had been a strong lift in support for an increase or broadening of the GST since last year's survey, CEDA chief executive Stephen Martin said.
"This is probably a combination of concern about the federal government cuts and recognition that they alone will not be enough to balance the federal budget if we are to maintain the same level of services and infrastructure," Professor Martin said.
"Eighty per cent of respondents support increasing revenue by reforming taxation, with priorities being broadening and increasing the rate of GST along with removing middle class and business welfare tax breaks."
The business community also wanted a portion of income tax assigned to the states, specifically to fund key areas such as schools and public transport, Prof Martin said.
Respondents also said the best way for the government to respond to below trend economic growth was to provide greater incentives for research and development, and invest in education to support workforce capability.
Prof Martin said these desires ranked much higher than policy changes such as lowering the corporate tax rate or reducing the burden of government red tape.
The CEDA Big Issues survey attracted 875 respondents and was conducted over two weeks in November.
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