Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Wednesday, 30 November 1960

Mr LUCHETTI (Macquarie) .- The explanation of the Treasurer (Mr. Harold Holt) is unsatisfactory to me. He has dealt with imponderables - what might be and what might not be. One would think when legislation of this sort is brought to the Parliament and considered by the committee that the Treasurer would have a clear view of the picture. One would expect him to know precisely what was going to happen. If he lacks specific information on this matter, how can he know that the measure will do the work he anticipates it will do? The Treasurer has said that he cannot indicate clearly what will happen because of a number of circumstances. He said he would not know what would be the effect on hire purchase or the attitude of the community generally to the higher impost.

All these imponderables have cast a cloud of doubt over the whole proposition. Until the right honorable gentleman and the Administration are capable of telling the committee clearly what will happen as a result of this proposal, I think we ought to reject it. The proposal is unsatisfactory to me. I know it is unsatisfactory to the Australian Labour Party, just as it is unsatisfactory to the motor industry and most of the people in the community. Here is an important matter involving finance. What is to happen regarding a specific tax? We do not know whether the people will buy motor cars, whether cars will be available for export, whether materials will not be available or whether there will be a decline in employment. All these things are shrouded in doubt, and until the Treasurer can give a more satisfactory explanation, the proposal should be rejected.

Suggest corrections