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Thursday, 16 October 2003
Page: 21623

Mr SLIPPER (Parliamentary Secretary to the Minister for Finance and Administration) (9:11 AM) —I move:

Customs Tariff Proposal No. 6 (2003)

The tariff proposal that I have just tabled contains an alteration to the Customs Tariff Act 1995. The proposal formally places before parliament an alteration to part II of schedule 4 to the tariff to substitute item 22. Item 22 is being substituted to accommodate changes in technology in the oil and gas industries. The new item, in conjunction with its proposed by-law, will reduce the cost of certain goods imported for use directly in connection with the exploration for and discovery of oil and gas deposits and the preproduction development of wells on those deposits, by allowing duty-free entry of those goods, provided that substitutable goods are not available from Australian manufacturers.

These amendments not only address industry concerns but, by reducing the costs of imports, will maximise the recovery of Australia's petroleum resources which is consistent with the objective of the government of encouraging a supportive environment for investment and enhanced productivity. A summary of the alterations contained in this proposal has been prepared and is being circulated. I commend the proposal to the House.

Debate (on motion by Ms Macklin) adjourned.