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Wednesday, 11 May 1994
Page: 562

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

  That the Senate—

  (a)notes the high degree of vulnerability in the 1994-95 Budget forecasts and estimates and draws attention to the caveats in Budget Paper No. 1 which indicate that certain estimates are not as robust as in the past;

  (b)calls on the Government to reconsider its estimates for corporate tax collection in the light of the drop of corporate rate from 39 per cent to 33 per cent and the new deductibility for fringe benefits tax given the 131 per cent increase in fringe benefits tax collections; and

  (c)draws the attention of the people of Australia to the bad financing practice of selling assets, such as Qantas, to pay for the regular and on-going costs of Government.