Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Keating statement helps local business



Download PDFDownload PDF

ROGER PRICE MP

FEDERAL MEMBER FOR CHIFLEY PARLIAMENTARY SECRETARY TO THE MINISTER FOR ]DEFENCE

9 February 1993

KEATING STATEMENT HELPS LOCAL BUSINESS

Hundreds of local small and medium businesses will benefit from measures announced today by the Prime Minister, said Federal Member for Chifley, Roger Price. i

The lift in business confidence arising from the 'Investing in the Nation' statement should also help generate some investment along with getting locals into jobs.

"I am sure that the statement came as a relief to local businesspeople, who are no doubt welcoming today's reduction of the company tax rate from 39% to 33%," said Mr Price.

"It shows that the Labor Government has a blueprint for economic recovery.

"With the lower tax rate, reintroduction of quarterly tax payments, more generous depreciation allowance and a comprehensive overhaul of the way that banks treat small business, local: employers should feel very confident about the

immediate and long term future.

"This confidence will lead to more jobs for our children," said Mr Price.

Mr Price said sure ways to stop the economic recovery dead in its tracks would be to introduce a 15% GST - removing the ability of consumers to spend - and to keep company tax high, reducing the ability of small business people to employ, invest and grow.

COMMONWEALTH

PHONE: 625-4344 PARLIAMENTARY LIBRARY FAX: 832-2641

MlCAH

..business

.2

"The Opposition wants to slug businesses with a company tax rate of 42% and get the rest of us with a 15% consumption tax. On top of this, Dr Hewson wants to make us pay more for health insurance and kill off our job security and hard-won working

conditions.

"These measures would do nothing for the local or the national economy except send them backwards. They haven't worked in England or New Zealand, and they're not going to work here.

"Local business people who are serious about making their businesses - and their communities - prosper, will see that Labor is their best choice,'' said Mr Price.

Media contact: Brian Mitchell (625-4344)