GST hike cost as much as a carbon tax, with less revenue

Mr Morrison pointedly said tax incentives need to be targeted.

Speaking on ABC 24 on Sunday, the leader of the Greens, Richard Di Natale said his party had a fully costed economic policy to raise revenue by tackling superannuation concessions for high income earners, multinational tax avoidance, negative gearing and subsidies for fossil fuels.

But he confirmed the government is looking at a proposal by Deloitte Access Economics that would reduce super contributions tax by 15 percentage points from a worker’s income tax rate.

“It can reinstate the original carbon tax and put a price on pollution of about $29 a tonne and have a smaller impact on households and cut pollution, or it can go ahead with raising the GST which will see households paying up to three times as much”.

‘It will become more obvious for people that Malcolm Turnbull is a lot more talk than action when he seeks to make a few decisions, ‘ he said.

Labor’s superannuation spokesman, Jim Chalmers, stood by the ALP plan on retirement savings, which focuses more on lifting the taxes on earnings.

“There’s an already-costed, considered plan to fix the superannuation system”.

“We have to look at the things that are holding the economy back and our tax system is holding our economy back”.

“The government is open to all of these ideas”, Mr Morrison told Sky News on Tuesday. Mr Morrison defended the time it was taking the government to come up with concrete proposals for tax reform, citing the experience of the Key government in New Zealand.

“Now I’m not proposing that is necessarily where the Government is going”. A green paper, to be released next year, and the May budget would be part of the Australian process, the treasurer said.

The delay takes one report off the Treasurer’s table for what shapes as a busy final two months of the year.