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Thursday, 17 February 1977

Labor's new plan makes no mention of three important proposals that were previously put forward as essential in the Whitlam plan:

A reduction in the rate of company tax;

More generous income tax rebates;

A reduced health levy.

The plan gives no commitment to either personal tax indexation or company tax indexation.

The plan makes no mention whatever of external policy. It has to be remembered that the Labor Party has been critical of the Goverment 's external policy. In the light of such criticism, it is strange indeed that no alternative has been brought forward.

Finally, the plan says nothing of substance about financing the increased deficit- although some mention is made of aggressive' selling of bonds (whatever that means)- it is abundantly clear that the Hurford plan is simply to print more money.

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