Lowe backs GST, company tax shake-up

Euan Black and Michael Read

Updated Jun 27, 2025 – 9.01pm, first published at 5.45pm

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Former Reserve Bank governor Philip Lowe has urged the Albanese government to consider raising and broadening the GST and lowering company taxes as part of a broader overhaul of the taxation system that ensures future generations enjoy higher living standards than their parents.

In a wide-ranging interview with AFR Weekend that also touched on housing, monetary policy and artificial intelligence, Lowe said lifting the 10 per cent GST while encouraging greater investment through cuts to income and company taxes could be “a sensible reform”.

Euan Black is the health and wellness reporter at The Australian Financial Review. He was the work and careers reporter.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.