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Time's up for Keating's corporate camaraderie



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Media Release

Ian McLachlan

Shadow Minister for Industry and Commerce

5/92

TIME'S UP FOR KEATING'S CORPORATE CAMARADERIE

Panicky changes to the long-term ground rules for business would not result in instant jobs and business investment - in fact it could. even make the present situation worse, the Shadow Minister for Industry and Commerce, Ian McLachlan, said today.

Suggestions of a pause in tariff reductions by anxious business leaders or big dollar spending plans by the trade unions and State Governments under pressure accurately reflected the mood of genuine despair.

'Quick policy U-turns which add further uncertainty to the business environment could drive even more investment offshore, resulting in the loss of even more permanent jobs. '

'The solution to employment and business investment lies in two critical directions:

1. Substantial reform of the taxation system and the removal of $20 billion of the $36 billion of business taxes and charges as proposed in the 'Fightback' package.

2. An immediate acceleration in the program of domestic reform including industrial relations, land, sea and air transport and communications.

'Talk is cheap and the Keating caravan has enough 'action plans' to rebuild the whole of Eastern Europe.

'Quite simply, there is no more time for conversation and corporate camaraderie.

'The Government knows what the best long-term solutions are, and Mr Keating has been pontificating on them again this week.

'Why do more than one million unemployed people have to wait a minute longer for the tablet to be delivered?

'The time has come for P J Keating to deal with the great untouchables - tax reform and reform of the industrial relations system, which are the foundations on which Australia will be rebuilt', Mr McLachlan said.

Further information:

COMMONWEALTH

PA R LIA M EN TA R Y LIBRARY M iC A H

Ian McLachlan Shadow Minister for Industry and Commerce Telephone: 08 2377140 21 January 1992