Treasurer Joe Jockey has instructed the Australian Tax Office to itemise each taxpayer’s receipt, outlining how their payments are spent.

Each receipt will show in dollar terms where that individual’s money went amongst the broad categories of welfare, health, education etc.

As a way of making plain the debt precipice upon which the Australian economy teeters, the Treasurer has also instructed the ATO to show the government’s gross debt. Another figure will show how much that debt works out to be per taxpayer.

Treasurer Hockey said, “Taxpayers deserve to know where their money is being spent.

“The Coalition understands that every dollar the Government has it holds in trust for the taxpayer.”

The Treasurer’s announcement comes as the Abbott government is preparing its announcement on the details of its Commission of Audit. The audit investigated government spending and sought out potential bureaucratic savings in an effort to return the country’s budget to surplus

The government is taking Australia’s currently growing debt very seriously. It is expected the legal debt ceiling will need to be raised, from its current $300 billion, before the end of the year.

The government (and domestic financial experts) are desperate to slow down and reverse the current rate at which the country accumulates debt.

“This initiative,” said Mr Hockey, “will help keep pressure on government to ensure that tax revenue is spent wisely. This will force the Government to be more accountable to taxpayers who rightly feel that, under the current government, their taxes are all too often being frittered away.”

After the recent blocking of key budget policies in the Senate the government has decided upon a review of taxes. But the Coalition would also like to find major savings to boost the economy, rather than be forced to increase taxes, or rely on business growth in such an unstable world economy.

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