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Wednesday, 29 April 1987
Page: 1949


Senator MESSNER —I give notice that, on the next day of sitting, I shall move:

That the Senate-

(a) notes the depressed business investment climate in this country as exemplified by a number of recent surveys published by the Australian Bureau of Statistics and private sector organisations, including the Australian Chamber of Manufactures;

(b) condemns the Federal Government for this depressed investment environment which is a direct result of the high interest rate policy pursued by the Government, pushing the small business and prime interest rates to record levels;

(c) notes the depressing effect which ever increasing Government taxes and charges, such as the fringe benefits tax and the capital gains tax, are having on the after-tax real rate of return on business investment; and

(d) deplores the lack of appreciation by the Government of the anti-business impact of the new legislation on dividend imputation and its interaction with the foreign tax credit system.