According to the budget papers,the government’s tax haul is expected to rise by 28 per cent over the next four years,from about $31.5 billion currently,to $40.4 billion in 2026-27. The danger is that growth turns out to be lower than expected and unemployment higher.

That would only compound the budget’s problems.

In its discussion of risks,Treasury reckons an economic slowdown could add $2.1 billion to the state’s net debt burden over four years,adding $674 million to the state’s cumulative deficits over four years.

In other words,it is a risky time,economically and politically,to be burdening the state with major new taxes.

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