The Alternative Information & Development Centre (AIDC) made written and oral submissions to the standing and select committees on finance on the fiscal framework and revenue proposals in May 2025. We argued that the focus on austerity, debt reduction, and private-sector-led growth fails to address unemployment, poverty, and inequality. Although the 2025 budget contains real increases for key social sectors, the real decreases in post-school education and training, arts, culture, sport and recreation, social security funds, defence and state security, law courts and prisons, home affairs, and executive and legislative organs do not signify a departure from austerity altogether. There are a number of revenue-raising options that should be considered in the short and medium terms, such as pausing government contributions to the Government Employees Pension Fund, implementing a net wealth tax, combating illicit financial flows, and removing and reducing tax breaks for the wealthy.
See our full submission below.
