McKell Institute — Data briefing series - Economic records don’t match the election rhetoric - Key findings

Using official historical data and forecasts contained in the 2022-23 budget, the McKell Institute has conducted an analysis of taxation, spending and debt of Labor and Coalition governments for the period from the election of the Whitlam government in December 1972 through 2021-22, as well as the budget forecast years 2022-23 to 2025-26. [...] The analysis excludes the pandemic years 2019-20 to 2021-22 that required large spending to support the economy, but includes the previous Labor government’s stimulus in response to the Global Financial Crisis. [...] Key findings The present Coalition government is the second-highest taxing government in the last 50 years behind the Howard government. [...] Taxation • The present Coalition government is the second-highest taxing government in the last 50 years behind the Howard government. [...] • If the present Coalition government is re-elected, the budget papers forecast it will more than treble the net debt of the previous Labor government and will be Australia’s most heavily indebted government.