OECD calls on Australia to raise GST and increase affordable housing amid budget deficit

The Organisation for Economic Co-operation and Development (OECD) has released its annual economic survey of Australia, urging the government to broaden the Goods and Services Tax (GST) and increase investment in affordable housing. The OECD, led by former Liberal senator Mathias Cormann, suggests these measures to address Australia's budget deficit. The report also recommends further action to reduce greenhouse gas emissions. The OECD believes Australia's economy is "normalising" after a period of slow growth following the pandemic. These recommendations come ahead of Treasurer Jim Chalmers' fifth federal budget in May.