| Publisher | Commonwealth of Australia | ||
|---|---|---|---|
| Format | 33.1KB PDF | Date added | 01 Oct 2002 |
| Topics | Financial Management | ||
| Downloads | 124 | ||
A feature of Australia's federal system is that the States have relatively large constitutionally assigned spending responsibilities but few own-revenue sources whilst the reverse is true at the Commonwealth level. The difference between the relative revenue and spending responsibilities of the Commonwealth and States is known as vertical fiscal imbalance (VFI). The merits of VFI have long been debated. The issue became more prominent with the introduction of the GST. This paper canvasses some of the issues in the debate over VFI.
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