Mid-market businesses brace for wage pain, interest rate hikes

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A pre-budget survey by KPMG found most mid-tier leaders would support a GST increase to help reduce national debt.

through policies such as immigration reform. They warned that failing to do so would stymie the country’s growth.

He said respondents were “somewhat unusually” united in what they wanted from the government in the coming federal budget, calling for debt reduction and accepting that might come through an increase in GST. . Ninety-three per cent believed there should be some form of change and 61 per cent said it should be broad-based.“GST has been with us a long time now ... at 10 per cent, and in other countries we’ve seen that risen,” Mr Bird said.

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