Bill Shorten urges ACT to cut taxes and attract investment
Labor luminary and UC Vice-Chancellor Bill Shorten says the territory should review and lower taxes to gain competitive advantage.
At a Canberra business event on Thursday, Shorten suggested a bold strategy for the territory's economy. The ACT should examine all its taxes and charges against other states and consider cutting them significantly.
Shorten said the territory could 'Delaware' it, comparing it to the US state's low-tax business regime. If the approach created too much debt or failed, the territory could reverse it, he said.
In risk-averse politics, going bold is challenging, but Shorten argued it might be necessary for growth. Shorten also suggested the territory should think of itself more as a city-state than a traditional territory.
- Delaware, US state
- Tax comparison
- Singapore
- City-state example
- Hyatt, Canberra Business Chamber
- Event venue
- UC Vice-Chancellor
- Shorten's role
Why it mattersThe ACT economy is heavily dependent on federal public service jobs; attracting private investment could strengthen its economic independence.
AustraliaIf adopted, lower ACT taxes could lure businesses and workers from other states, reshaping the territory's economic base.
✓ Claims checked against the source. checked 1 h ago
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