Mr EDE - 1995-05-23
The Institute of Public Affairs' economic commentator, Mike Nahan, has said that the tax increases that were announced in last Thursday's budget - and I am referring to the actual announcements - represent the steepest tax increases imposed by any state, territory or Commonwealth government for at least the last 15 years. Does the Treasurer agree that this year's Territory budget is the most savage-taxing budget introduced by any government in any Australian jurisdiction over the last 15 years? What does this say about the financial management during his period as Treasurer?
ANSWER
Mr Speaker, there is no question that this year's budget includes many revenue-raising measures and a new tax. It will raise some $41m in our total revenue effort of around about $728m thus it is considerable and there is no doubt about that. The facts are, however, that taxes and charges have not increased significantly in the Northern Territory for almost 3 years. As I foreshadowed ...
Mr Ede interjecting.
Mr COULTER: I will not steal somebody else's thunder, but some good public opinion work was done by Fred McCue of the ABC. The Leader of the Opposition may be worried about bus fares and matters like that, but he should ask the people whether or not they think those increases are reasonable.
In the budget, I said also that, notwithstanding any unforeseen circumstances, it was highly unlikely that there would be a need to increase taxes and charges to this level in the near future. The Leader of the Opposition has been trying to drum up hatred in the community about this budget. Usually, he likes to come into this Chamber and tell us what the Institute of Public Affairs has said about the budget. Would he like to tell us also what Mr Nahan said was good about this budget, that it was a responsible budget? Would he like to say that? Have people asked themselves why there has been a deafening silence this year? Usually, the Leader of the Opposition comes in here armed with an Access Economics critique of the budget, but there has been not a word this year.
Mr Ede interjecting.
Mr COULTER: Copies of the budget have been forwarded to Access Economics for its assessment, and there has been not so much as a murmur from Access Economics indicating that this is a terrible budget.
The Trades and Labor Council is saying that it is up to $800 a week, and the Leader of the Opposition is saying that it is $500 a week, but what is happening in the community? People realise that this budget is responsible, that the Northern Territory economy has never looked as good as it does today and that the future is bright. They recognise that there are job opportunities and that we have an economy that is sustainable.
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When the Australian government reached 6% growth, it put the brakes on and interest rates went up. What happened in the Territory? Last year, it was 8.5% and the year before it was 3.5%. That is how strong the economy is in the Northern Territory, and it will increase to 6.5% in 1995-96. The economy is robust, and the budget is responsible. Sure, it contains tax hikes and revenue increases, but I let every Territorian know that there have been no substantial increases in taxes and charges over the last 3 years, and there is not likely to be for some time into the future. That is the kind of budget that was delivered here last Thursday. It is an excellent budget and it has received widespread support, not only from the business community and ordinary Territorians, but following analysis by the Institute of Public Affairs, whose Mr Nahan, on the ABC's 7.30 Report, called it `a responsible budget and a good budget', and so it is.
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ANSWER
Mr Speaker, there is no question that this year's budget includes many revenue-raising measures and a new tax. It will raise some $41m in our total revenue effort of around about $728m thus it is considerable and there is no doubt about that. The facts are, however, that taxes and charges have not increased significantly in the Northern Territory for almost 3 years. As I foreshadowed ...
Mr Ede interjecting.
Mr COULTER: I will not steal somebody else's thunder, but some good public opinion work was done by Fred McCue of the ABC. The Leader of the Opposition may be worried about bus fares and matters like that, but he should ask the people whether or not they think those increases are reasonable.
In the budget, I said also that, notwithstanding any unforeseen circumstances, it was highly unlikely that there would be a need to increase taxes and charges to this level in the near future. The Leader of the Opposition has been trying to drum up hatred in the community about this budget. Usually, he likes to come into this Chamber and tell us what the Institute of Public Affairs has said about the budget. Would he like to tell us also what Mr Nahan said was good about this budget, that it was a responsible budget? Would he like to say that? Have people asked themselves why there has been a deafening silence this year? Usually, the Leader of the Opposition comes in here armed with an Access Economics critique of the budget, but there has been not a word this year.
Mr Ede interjecting.
Mr COULTER: Copies of the budget have been forwarded to Access Economics for its assessment, and there has been not so much as a murmur from Access Economics indicating that this is a terrible budget.
The Trades and Labor Council is saying that it is up to $800 a week, and the Leader of the Opposition is saying that it is $500 a week, but what is happening in the community? People realise that this budget is responsible, that the Northern Territory economy has never looked as good as it does today and that the future is bright. They recognise that there are job opportunities and that we have an economy that is sustainable.
Page 565
When the Australian government reached 6% growth, it put the brakes on and interest rates went up. What happened in the Territory? Last year, it was 8.5% and the year before it was 3.5%. That is how strong the economy is in the Northern Territory, and it will increase to 6.5% in 1995-96. The economy is robust, and the budget is responsible. Sure, it contains tax hikes and revenue increases, but I let every Territorian know that there have been no substantial increases in taxes and charges over the last 3 years, and there is not likely to be for some time into the future. That is the kind of budget that was delivered here last Thursday. It is an excellent budget and it has received widespread support, not only from the business community and ordinary Territorians, but following analysis by the Institute of Public Affairs, whose Mr Nahan, on the ABC's 7.30 Report, called it `a responsible budget and a good budget', and so it is.
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Last updated: 09 Aug 2016