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Friday, 23 November 1979

Senator DURACK (Western AustraliaAttorneyGeneral) - I am pleased that the Opposition does not oppose these Bills. Senator Tate has moved an amendment to the motion that the Bills be now read a second time. That amendment seeks to condemn the Government for continuing to impose a two per cent ad valorem revenue customs duty on most goods which were imported duty free prior to 1 July 1979. I simply point out that that is a Budget measure. It is estimated that it will raise $75m in revenue this year. I think that when the Opposition moves an amendment or opposes a measure contained in the Budget which will raise revenue of that size and importance, it is its responsibility to indicate how else that revenue might be raised. What taxes would the Opposition rather impose? Would it rather that we forgo some of the income tax cuts which will be made as a result of our passing the legislation which passed through the Senate in the past day or two? That legislation will complete the process of introducing a tax cut which will take effect for millions of wage earners on 1 December. What does the Opposition suggest should be done?

Senator Tate - What about family trusts?

Senator DURACK - Why did Senator Tate not make some suggestions? All we got was an indication that we should not continue with this revenue raising measure of such magnitude. As far as the Government is concerned, this is the priority it has determined. It is a Budget measure providing for a significant reduction in personal income tax, which is the Government's first priority. It is part of that general package and it ought to proceed.

Amendments negatived.

Original question resolved in the affirmative.

Bills read a second time; and passed through their remaining stages without amendment or debate.

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