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Secret tax deals raise fears of another Budget tax grab

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Media Release Senator Mathias Cormann Shadow Assistant Treasurer Shadow Minister for Financial Services and Superannuation

12/0410/MC 10 April 2012

Secret tax deals raise fears of another Budget tax grab

Australia’s business community has every right to fear yet another Labor tax grab in next month’s Budget after Wayne Swan’s refusal to consult widely on proposed business tax changes.

The Labor government’s own Business Tax Working Group has been precluded from engaging in wide consultation on proposed tax changes because of confidentiality agreements imposed by the government.

Labor has very bad form when it comes to imposing massive new or increased taxes without consultation.

The mining tax was negotiated exclusively and in secret with the three biggest mining companies, excluding their competitors and State governments from the process.

The carbon tax was imposed on Australians despite emphatic pre-election promises by both the Prime Minister and the Treasurer that there would be no carbon tax.

Now, as Wayne Swan is desperate to find more cash to pay for his wasteful spending, he is yet again casting around for new or increased taxes developed in secret behind closed doors.

Wayne Swan must properly engage on genuine tax reform with all relevant stakeholders, including the wider business community.

Australia needs a government that spends less, taxes less, is serious about cutting red tape and helps improve our productivity so our economy will grow more strongly.

Stronger economic growth will not only deliver increased prosperity for our nation, it will also deliver increased government revenue without the need for new or increased taxes.

MEDIA CONTACT: Senator Cormann 0411 874 546