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Tuesday, 6 June 2000
Page: 17078

Mr KELVIN THOMSON (2:30 PM) —My question is to the Minister for Financial Services and Regulation. Minister, I refer again to your government's unequivocal guarantee that `the price increase is never 10 per cent' as a result of the new tax package. I refer also to the ACCC's GST shopping list which shows an increase of between eight and 9.3 per cent for magazines. Are you aware that Home Ideas magazine this month carries—

Mr SPEAKER —The member for Wills!

Mr KELVIN THOMSON —It just happens to be here, Mr Speaker. Home Ideas magazine this month carries a dual tag which shows a GST-inclusive price that will be 10.18 per cent higher after 1 July—a GST price increase greater than 10 per cent. Minister, if magazines are ignoring your claims, why should Australian consumers believe you?

Mr HOCKEY (Minister for Financial Services and Regulation) —I have learned not to take for granted the assertions made by the Labor Party, especially when it comes to publications—just ask the member for Bass. I understand it was the member for Hotham who was distributing the original letter around the press gallery. So the member for Bass should take it up with the member for Hotham when it comes to doing you over. I will refer that to the ACCC and ask them to get the facts behind the assertion made.

Mr McMullan —I seek leave to table the magazine, Mr Speaker.

Leave not granted.