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Labor's fuel excise tax annoucement

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Mr Tim Fischer, Shadow Minister for Energy and Resources and Leader of the National Party, commented that Senator Peter Cook's (Minister for Shipping and Aviation) announcement of a 1.1 c/L reduction in the Fuel Excise Tax on Avgas "is laughable".

Mr Fischer said "the Coalition announced nearly a year ago that we will completely abolish all Fuel Excise Tax, not only on Avgas but on petrol and diesel as well.

"This will cut the price of Avgas by 27.5 c/L.

"Petrol and diesel will be cut by 19 c/L for private motorists and by 26 c/L for business users (GST is rebated to business users)

"For the private motorist this amounts to a saving of $14.70 on every tank full for a Falcon or Commodore.

"An important point to note is that Labor must make up for the loss of revenue, resulting from the reduction of Excise Tax on Avgas, by increasing taxes somewhere else - if not now then after the next election.

"This is part of the reason why Treasurer Dawkins, in his budget speech, alluded to the need for new taxes if the economy did not grow as fast as their optimistic forecasts require.

"In contract, the Coalition's complete removal of all Fuel Excise Tax is part of a coherent plan, which is fully funded (ie under Fightbackl revenues balance or exceed expenditures).

"The Coalition’s Fightbackl package is a coherent plan to get the productive sectors of our economy growing again - thus producing more jobs and an improving standard of living" Mr Fischer added.

For more information contact 06 277 4225. Date: 21/8/92