The Treasurer dismisses the opposition's claim that the federal budget increased taxes, arguing the opposition's analysis is flawed and even reveals tax cuts in the state budget and the opposition's own proposals. The Treasurer also criticizes the opposition's fiscal responsibility.

AnsweredQoN 237Legislative Assembly
Asked
16 May 2007
Portfolio
Treasurer

QuestionView source ↗

FEDERAL BUDGET - TAXES
Does the Treasurer support the opposition’s contention that federal Treasurer Peter Costello increased taxes by $10.6 billion in the last commonwealth budget? Mr E.S. RIPPER

AnswerView source ↗

Get on the mobile phone; get Laurie Oakes! Get Jim Middleton! Get Michael Brissenden! Get Glenn Milne, quickly! There is breaking news in Western Australia: the shadow Treasurer has revealed the flaw in the federal coalition’s re-election campaign. There are no tax cuts, says the shadow Treasurer of Western Australia. Get hold of the international accounting authorities; there has been a change in the international accounting rules. Peter Costello has not cut taxes; he has increased taxes by $10.6 billion, according to the shadow Treasurer of Western Australia. Mr Speaker, according to the shadow Treasurer’s analysis, there is breaking news for the press gallery in Western Australia. Someone phone Robert Taylor, quickly! If the shadow Treasurer’s analysis is to be applied, there is an unheralded tax cut in MY budget. There is also a tax cut in stamp duty, according to the shadow Treasurer’s analysis. I refer the shadow Treasurer and Mr Taylor to page 66 of the Economic and Fiscal Outlook . There can be seen the estimate for actual returns for stamp duty on conveyances for 2006-07. It is $1 969 million. The estimated return for 2007-08 is $1 697 million. That is a $272 million decline in stamp duty revenues. I know where $80 million of that comes from; it comes from the most generous stamp duty exemptions in the nation for first home buyers. However, that still leaves $192 million. If the shadow Treasurer’s way of analysing tax cuts is to be applied, there is in this budget an unheralded tax cut of $192 million in stamp duty for people other than first home buyers. I do not make that claim, Mr Speaker. I claim $433 million in tax relief as a result of the decisions made in this budget; in the next financial year, it will be $1.2 billion, if the previous four rounds of taxation relief are taken into account. However, I turn to the Liberal Party’s $328 million tax package. It is not $433 million; it is $328 million. I have applied the shadow Treasurer’s method of analysis to his own promise. Taxation revenue for 2007-08 is forecast at $5 527 million - about one-sixth of what Peter Costello collects, but nevertheless still a sizable sum of money. Restore to that amount the government’s $433 million in tax cuts, and the result is a base of $5 960 million. Subtract from that the Liberal Party’s paltry $328 million package, and the result is the Liberal Party’s tax revenue for 2007-08 - $5 632 million. Guess what, Mr Speaker? That is $10 million above the tax revenue received last year. The application of the shadow Treasurer’s analysis to the two packages reveals him to be increasing taxes by $10 million. Even by the shadow Treasurer’s own analysis, I am decreasing taxes by $95 million. However, the shadow Treasurer’s analysis is totally flawed. If the chattering genius opposite is correct, Peter Costello did not deliver tax cuts. However, I turn to another issue. The shadow Treasurer has boasted of the opposition’s fiscal responsibility. I listened to the shadow Treasurer’s leader on the radio this morning. His leader is quite out of control on fiscal management. After having blown the capital works program for the next half-century on the Liberal Party pipeline plan, he now plans to blow the recurrent budget. He was asked by Simon Beaumont what the Liberal Party would do to try to boost recruitment and retention of teachers, police officers and nurses. What he said in reply was amazing. The transcript reads - Well whatever it takes, Simon. Whatever it takes! Later he said - . . . so whatever that takes, we need to get out there and if it’s pay and conditions, then offer them pay and conditions. And obviously that has an impact on the budget and I’m very much aware of that. I ask the Leader of the Opposition what impact it will have on the budget. I ask him whether he took his ideas to the opposition’s expenditure review committee. Did the member for Vasse even know that the Leader of the Opposition would make the “whatever it takes” promise? Did he know about the pipeline promise? The opposition’s entire expenditure review committee process falls to pieces every time the desperate and failing Leader of the Opposition speaks on radio or looks at the latest Westpoll. The opposition has no credibility whatsoever on taxation relief or expenditure control. The opposition is not fit to be in government.
Mr E.S. RIPPER replied: Get on the mobile phone; get Laurie Oakes! Get Jim Middleton! Get Michael Brissenden! Get Glenn Milne, quickly! There is breaking news in Western Australia: the shadow Treasurer has revealed the flaw in the federal coalition’s re-election campaign. There are no tax cuts, says the shadow Treasurer of Western Australia. Get hold of the international accounting authorities; there has been a change in the international accounting rules. Peter Costello has not cut taxes; he has increased taxes by $10.6 billion, according to the shadow Treasurer of Western Australia. Mr Speaker, according to the shadow Treasurer’s analysis, there is breaking news for the press gallery in Western Australia. Someone phone Robert Taylor, quickly! If the shadow Treasurer’s analysis is to be applied, there is an unheralded tax cut in MY budget. There is also a tax cut in stamp duty, according to the shadow Treasurer’s analysis. I refer the shadow Treasurer and Mr Taylor to page 66 of the Economic and Fiscal Outlook . There can be seen the estimate for actual returns for stamp duty on conveyances for 2006-07. It is $1 969 million. The estimated return for 2007-08 is $1 697 million. That is a $272 million decline in stamp duty revenues. I know where $80 million of that comes from; it comes from the most generous stamp duty exemptions in the nation for first home buyers. However, that still leaves $192 million. If the shadow Treasurer’s way of analysing tax cuts is to be applied, there is in this budget an unheralded tax cut of $192 million in stamp duty for people other than first home buyers. I do not make that claim, Mr Speaker. I claim $433 million in tax relief as a result of the decisions made in this budget; in the next financial year, it will be $1.2 billion, if the previous four rounds of taxation relief are taken into account. However, I turn to the Liberal Party’s $328 million tax package. It is not $433 million; it is $328 million. I have applied the shadow Treasurer’s method of analysis to his own promise. Taxation revenue for 2007-08 is forecast at $5 527 million - about one-sixth of what Peter Costello collects, but nevertheless still a sizable sum of money. Restore to that amount the government’s $433 million in tax cuts, and the result is a base of $5 960 million. Subtract from that the Liberal Party’s paltry $328 million package, and the result is the Liberal Party’s tax revenue for 2007-08 - $5 632 million. Guess what, Mr Speaker? That is $10 million above the tax revenue received last year. The application of the shadow Treasurer’s analysis to the two packages reveals him to be increasing taxes by $10 million. Even by the shadow Treasurer’s own analysis, I am decreasing taxes by $95 million. However, the shadow Treasurer’s analysis is totally flawed. If the chattering genius opposite is correct, Peter Costello did not deliver tax cuts. However, I turn to another issue. The shadow Treasurer has boasted of the opposition’s fiscal responsibility. I listened to the shadow Treasurer’s leader on the radio this morning. His leader is quite out of control on fiscal management. After having blown the capital works program for the next half-century on the Liberal Party pipeline plan, he now plans to blow the recurrent budget. He was asked by Simon Beaumont what the Liberal Party would do to try to boost recruitment and retention of teachers, police officers and nurses. What he said in reply was amazing. The transcript reads - Well whatever it takes, Simon. Whatever it takes! Later he said - . . . so whatever that takes, we need to get out there and if it’s pay and conditions, then offer them pay and conditions. And obviously that has an impact on the budget and I’m very much aware of that. I ask the Leader of the Opposition what impact it will have on the budget. I ask him whether he took his ideas to the opposition’s expenditure review committee. Did the member for Vasse even know that the Leader of the Opposition would make the “whatever it takes” promise? Did he know about the pipeline promise? The opposition’s entire expenditure review committee process falls to pieces every time the desperate and failing Leader of the Opposition speaks on radio or looks at the latest Westpoll. The opposition has no credibility whatsoever on taxation relief or expenditure control. The opposition is not fit to be in government.
Get on the mobile phone; get Laurie Oakes! Get Jim Middleton! Get Michael Brissenden! Get Glenn Milne, quickly! There is breaking news in Western Australia: the shadow Treasurer has revealed the flaw in the federal coalition’s re-election campaign. There are no tax cuts, says the shadow Treasurer of Western Australia. Get hold of the international accounting authorities; there has been a change in the international accounting rules. Peter Costello has not cut taxes; he has increased taxes by $10.6 billion, according to the shadow Treasurer of Western Australia. Mr Speaker, according to the shadow Treasurer’s analysis, there is breaking news for the press gallery in Western Australia. Someone phone Robert Taylor, quickly! If the shadow Treasurer’s analysis is to be applied, there is an unheralded tax cut in MY budget. There is also a tax cut in stamp duty, according to the shadow Treasurer’s analysis. I refer the shadow Treasurer and Mr Taylor to page 66 of the Economic and Fiscal Outlook . There can be seen the estimate for actual returns for stamp duty on conveyances for 2006-07. It is $1 969 million. The estimated return for 2007-08 is $1 697 million. That is a $272 million decline in stamp duty revenues. I know where $80 million of that comes from; it comes from the most generous stamp duty exemptions in the nation for first home buyers. However, that still leaves $192 million. If the shadow Treasurer’s way of analysing tax cuts is to be applied, there is in this budget an unheralded tax cut of $192 million in stamp duty for people other than first home buyers. I do not make that claim, Mr Speaker. I claim $433 million in tax relief as a result of the decisions made in this budget; in the next financial year, it will be $1.2 billion, if the previous four rounds of taxation relief are taken into account. However, I turn to the Liberal Party’s $328 million tax package. It is not $433 million; it is $328 million. I have applied the shadow Treasurer’s method of analysis to his own promise. Taxation revenue for 2007-08 is forecast at $5 527 million - about one-sixth of what Peter Costello collects, but nevertheless still a sizable sum of money. Restore to that amount the government’s $433 million in tax cuts, and the result is a base of $5 960 million. Subtract from that the Liberal Party’s paltry $328 million package, and the result is the Liberal Party’s tax revenue for 2007-08 - $5 632 million. Guess what, Mr Speaker? That is $10 million above the tax revenue received last year. The application of the shadow Treasurer’s analysis to the two packages reveals him to be increasing taxes by $10 million. Even by the shadow Treasurer’s own analysis, I am decreasing taxes by $95 million. However, the shadow Treasurer’s analysis is totally flawed. If the chattering genius opposite is correct, Peter Costello did not deliver tax cuts. However, I turn to another issue. The shadow Treasurer has boasted of the opposition’s fiscal responsibility. I listened to the shadow Treasurer’s leader on the radio this morning. His leader is quite out of control on fiscal management. After having blown the capital works program for the next half-century on the Liberal Party pipeline plan, he now plans to blow the recurrent budget. He was asked by Simon Beaumont what the Liberal Party would do to try to boost recruitment and retention of teachers, police officers and nurses. What he said in reply was amazing. The transcript reads - Well whatever it takes, Simon. Whatever it takes! Later he said - . . . so whatever that takes, we need to get out there and if it’s pay and conditions, then offer them pay and conditions. And obviously that has an impact on the budget and I’m very much aware of that. I ask the Leader of the Opposition what impact it will have on the budget. I ask him whether he took his ideas to the opposition’s expenditure review committee. Did the member for Vasse even know that the Leader of the Opposition would make the “whatever it takes” promise? Did he know about the pipeline promise? The opposition’s entire expenditure review committee process falls to pieces every time the desperate and failing Leader of the Opposition speaks on radio or looks at the latest Westpoll. The opposition has no credibility whatsoever on taxation relief or expenditure control. The opposition is not fit to be in government.
However, I turn to the Liberal Party’s $328 million tax package. It is not $433 million; it is $328 million. I have applied the shadow Treasurer’s method of analysis to his own promise. Taxation revenue for 2007-08 is forecast at $5 527 million - about one-sixth of what Peter Costello collects, but nevertheless still a sizable sum of money. Restore to that amount the government’s $433 million in tax cuts, and the result is a base of $5 960 million. Subtract from that the Liberal Party’s paltry $328 million package, and the result is the Liberal Party’s tax revenue for 2007-08 - $5 632 million. Guess what, Mr Speaker? That is $10 million above the tax revenue received last year. The application of the shadow Treasurer’s analysis to the two packages reveals him to be increasing taxes by $10 million. Even by the shadow Treasurer’s own analysis, I am decreasing taxes by $95 million. However, the shadow Treasurer’s analysis is totally flawed. If the chattering genius opposite is correct, Peter Costello did not deliver tax cuts. However, I turn to another issue. The shadow Treasurer has boasted of the opposition’s fiscal responsibility. I listened to the shadow Treasurer’s leader on the radio this morning. His leader is quite out of control on fiscal management. After having blown the capital works program for the next half-century on the Liberal Party pipeline plan, he now plans to blow the recurrent budget. He was asked by Simon Beaumont what the Liberal Party would do to try to boost recruitment and retention of teachers, police officers and nurses. What he said in reply was amazing. The transcript reads - Well whatever it takes, Simon. Whatever it takes! Later he said - . . . so whatever that takes, we need to get out there and if it’s pay and conditions, then offer them pay and conditions. And obviously that has an impact on the budget and I’m very much aware of that. I ask the Leader of the Opposition what impact it will have on the budget. I ask him whether he took his ideas to the opposition’s expenditure review committee. Did the member for Vasse even know that the Leader of the Opposition would make the “whatever it takes” promise? Did he know about the pipeline promise? The opposition’s entire expenditure review committee process falls to pieces every time the desperate and failing Leader of the Opposition speaks on radio or looks at the latest Westpoll. The opposition has no credibility whatsoever on taxation relief or expenditure control. The opposition is not fit to be in government.
However, I turn to another issue. The shadow Treasurer has boasted of the opposition’s fiscal responsibility. I listened to the shadow Treasurer’s leader on the radio this morning. His leader is quite out of control on fiscal management. After having blown the capital works program for the next half-century on the Liberal Party pipeline plan, he now plans to blow the recurrent budget. He was asked by Simon Beaumont what the Liberal Party would do to try to boost recruitment and retention of teachers, police officers and nurses. What he said in reply was amazing. The transcript reads - Well whatever it takes, Simon. Whatever it takes! Later he said - . . . so whatever that takes, we need to get out there and if it’s pay and conditions, then offer them pay and conditions. And obviously that has an impact on the budget and I’m very much aware of that. I ask the Leader of the Opposition what impact it will have on the budget. I ask him whether he took his ideas to the opposition’s expenditure review committee. Did the member for Vasse even know that the Leader of the Opposition would make the “whatever it takes” promise? Did he know about the pipeline promise? The opposition’s entire expenditure review committee process falls to pieces every time the desperate and failing Leader of the Opposition speaks on radio or looks at the latest Westpoll. The opposition has no credibility whatsoever on taxation relief or expenditure control. The opposition is not fit to be in government.

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