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States at war over GST distribution
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It's the 'glue that binds federation'—and it's not cricket, the Queen or our collective obsession with an annual horse race. No; the adhesive that keeps the 'common' in our 'commonwealth' is a complex formula used to divvy out money between the states. It's called 'horizontal fiscal equalisation'—HFE, to those in the know—and it's been around, in some form, since the early years of federation. 'Equalisation' aims to ensure that poorer states can keep up with their wealthier neighbours, but the way it's used to slice up Australia's 48-billion-dollar GST pie is so contentious that it's now under formal review by the federal government. Submissions are in and they reveal some sharply contrasting views between states as to how GST revenue should be shared. Smaller states like Tasmania want to keep the status quo, while larger states like WA say equalisation leaves them short-changed.
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