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Coalition's economic package will get Australia working again



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Tim Fischer mp Federal Member for Farrer

Leader of the National Party of Australia

Shadow Minister for Energy and Resources

COALITION'S ECOHOMIC PACKAGE WILL GET AUSTRALIA WORKING AGAIN

TIM FISCHER GIVES IT 100% BACKING

Federal Leader of the National Party, Tim Fischer says the Coalition's economic package is the 'blue print for the economic recovery of

Australia.'

"It is about less tax, more jobs, more incentives to save and be

productive. It will turn Australia around from its present slide into Banana Republic status and re-establish a healthy, vibrant world class trading nation.

"Australians from all walks of life will be better off and the rural community, farmers and those living in provincial cities and towns will find themselves on equal terms with their city cousins, enjoying the enormous benefits offered in the package.

"The package is extremely comprehensive and will take some time to be fully absorbed however here are the key points:-* Total abolition of seven taxes. * Total abolition of Wholesale Sales Tax.

* Total abolition of Federal Fuel Excise. * Substantial PAYE Tax Cuts. * Payroll tax abolished * Incentives to save. * Greatly increased assistance for families. * Substantial benefits for low income earners. * Compensation for the aged. * A 15% Goods and Services Tax. (Locked in by Legislation so it won't

go higher) * No GST on Health or Education. * Full rebates of GST on business inputs. * Zero rating of GST on exports.

"These are some of the key points, and they clearly show that the Federal Coalition has constructed that essential economic blue print for economic recovery.

Mr. Fischer said Rural and Provincial Australia especially will appreciate the impact of the measures which will see greatly reduced costs not only for farmers but all motorists as well as the flow on effect of reduced costs for the transport sector. Then there are the tax cuts, assistance for education, help for families and relief for the aged and low income earners.

"It is a magnificent achievement which will deliver not only hope but also the real key for a return to prosperity, it also helps fanners and small businesses in survival mode", Mr Fischer added.

COMMONWEALTH PARLIAMENTARY LIBRARY MICAH

ENDS For further information phone 06 277 4058 21 November 1991