One Nation leader Pauline Hanson has sharply criticized Commonwealth Bank CEO Matt Comyn for endorsing an increase in Australia's goods and services tax (GST), asserting that such a move would worsen the existing cost-of-living pressures for households. Hanson accused Comyn of being out of touch with the financial realities faced by Australians.
Comyn's comments, made on ABC Radio, suggested that raising the GST as part of broader tax reforms could help reduce the country's reliance on income tax. He indicated support for increasing the GST from its current 10% rate to 15%, potentially simplifying the tax system and lowering income tax rates. Supporters of this approach argue it could address bracket creep, where wage increases inadvertently push individuals into higher tax brackets.
However, Hanson countered that Australians are already facing significant financial strain, and any increase in taxes on everyday items would add further pressure. She listed essential goods and services such as power bills, petrol, nappies, toilet paper, school shoes, insurance, and home building materials as examples that would become more expensive.
Hanson also directed criticism at Treasurer Jim Chalmers, suggesting the government should not entertain proposals that would increase the financial burden on citizens. She stated that Australians have experienced economic hardship under the current Labor government, citing unaffordable rent, insurance, and groceries, and attributing inflation and national debt to government spending.
The Commonwealth Bank recently reported a record cash profit of $10.98 billion for the 2025-26 financial year. In light of the bank's profitability, Hanson questioned its focus on advocating for tax increases over improving customer service.
She referenced a recent payment outage that affected millions of Mastercard users, an issue later attributed to a scheduled system update. Hanson argued that the bank should prioritize ensuring reliable payment systems for its customers rather than pushing for policies that would make everyday purchases more costly. She suggested that Commonwealth Bank should concentrate on enabling customers to access and use their funds, rather than lobbying for tax hikes.
The Australian government has previously stated that it does not plan to increase the GST or alter revenue-sharing arrangements between states and territories. This position was reiterated following a report that recommended changes to Western Australia's share of GST revenue.