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Friday, 23 November 1979

Senator DURACK (Western AustraliaAttorneyGeneral) - The amendment moved by the Opposition, to exclude the validation of the new excise duty on crude petroleum oil, would have an enormous impact on the revenue side of the Budget. From what Senator Wriedt said, it is not clear to me whether his proposal indicates any alternative sources of revenue. I would have thought that any amendment having such an impact on the Budget and such implications for Australia's economic policy as a whole would have had attached to it some clear indication of what alternative revenue was in mind.

Senator Wriedt - That is a very clear admission that you are primarily concerned with revenue, is it not?

Senator DURACK - No, it is not. I am just coming to that. The other point is that the Government has said at all times that the policy of import parity pricing is very vital to the proper allocation of resources. That is another major reason why this measure should proceed. The value of import parity pricing has already been shown. Senator Wriedt said that there has not been a significant reduction in consumption but, in fact, as a result of import parity pricing there has been a considerable improvement in exploration and I think a very much greater awareness in the community of the problems that we face as a nation in relation to our energy resources and energy supplies. The Government is particularly committed to these policies. This amendment would cut away completely the policy that is being pursued and it does not, as I said, suggest any alternative policy either to raise revenue or to encourage conservation and exploration measures. For those reasons the Government strongly opposes this amendment.

Amendment negatived.

Original question resolved in the affirmative.

Bill read a second time, and passed through its remaining stages without requests or debate.

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