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Tuesday, 17 February 1987
Page: 74

Senator MESSNER —I seek leave to make a personal explanation.

Leave granted.

Senator MESSNER —I refer to an article that appeared in the Business Review Weekly of 13 February 1987. In that article it was suggested that I may have alluded to the possibility that the next Liberal-National coalition government would abolish the foreign tax credit system and the Government's proposed dividend imputation system. Any comments that I have made in relation to the foreign tax credit system and the proposed dividend imputation system have been in regard to the need for Australia's tax system to become internationally competitive. Therefore, my comments were directed to the linkage between the two, rather than any of the specific and individual items themselves. I believe that the linkage provides difficulties in the future conduct of competition and especially competition arising from overseas, but never would I have suggested that we would seek to remove the dividend imputation system.