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Thursday, 29 March 1979
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Mr DEPUTY SPEAKER -The Leader of the Opposition may proceed if he claims to be misrepresented.


Mr HAYDEN -Yesterday at Question Time the Prime Minister (Mr Malcolm Fraser) made references to statements in relation to tax matters for which he said I was responsible. There were certain misrepresentations which I would wish to clear up immediately. I refer to only three matters of many that I could mention. The first is that he said:

In elaborating his economic plans in this House, at no time has he referred to tax cuts for lower income earners. Therefore, he is trying to deceive -

I draw the attention of the House to the alternative Budget which I outlined in the Budget debate last year. I then gave details of such a proposal. In another part the Prime Minister said:

No mention was made of the effect of inflation.

That is the effect in relation to a capital gains tax. He continued:

It is clear that the Labor Party has no intention of allowing for an inflation factor.

What I did say at the National Press Club the week before last was this:

In striking the tax rate . . .

That is, in relation to a capital gains tax- regard will have to be given to bunching and the effects of inflation on realised capital gains. For instance a flat rate could be levied at half of the top marginal tax rate or only half the gains would be included in income.

I made the point clearly enough there. There is nothing in this Press statement to which the Prime Minister referred which is inconsistent with that. Finally, the Prime Minister said:

The Press release also indicated that the plan of the Leader of the Opposition includes reducing the rate of inflation which it stated is now more than 8 per cent to 2.S per cent.

It is true that the Press statement does have that statement. It should be 'reducing the rate of inflation, now more than 8 per cent, by 2.5 per cent'. It is regrettable that the Press statement went out with a typographical error. I realise how serious this matter is, how wrathful the Prime Minister is as a consequence of it and the need to propitiate his anger. There will be a public autodafe in the parliamentary square at 6 p.m. today when the miscreant will be appropriately dealt with.







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