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Government's Tax Plans



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the Opposition

STATEMENT BY THE RT. HON. B .M . SIJEDD E N , " IN MELBOURNE. 1 6th MAY

Mr Whitlam has been vague throughout this campaign about his tax

plans. In 1972 he said there was no need for tax rates to be

increased at any level to pay for the Labor program. Yet there

were massive indirect tax increases in Labor's 1973 Budget,

additional income taxes imposed, particularly on some pensioners,

and in 1973/7*+ income taxes will rise by more than one-third.

Let Mr Whitlam be open about his plans. Let's have the full story.

Let's have some honesty before the end of this campaign. I

Taxes are one of the critical issues of this election, On this

issue more than any other the public have a right to "open" govĀ­

ernment - to know what Mr Whitlam is holding back. If he is not at ion prepared to clarify ' tax/ promises, he is deserting his responĀ­

sibility as an alternative leader of this country,.

Mr Whitlam has to find extra revenue from somewhere to pay for the

promises he and his Ministers have made. Yesterday he changed his

mind again about tax, .

The Australian people have a right to know exactly what taxes will

be levied from them if the Labor Government were returned to office.

It is absolutely impossible for the Government to increase its

spending and honour its promises without either raising indirect

taxes or finding a new source of tax revenue.

Mr Whitlam's statement that the Government would finance its

programs by increased productivity is meaningless. It is just not

credible. V/he-. ' governments spend so much money, the man in the

street has to pay through taxes, or by inflation.

If income taxes are going to come down, and if indirect taxes are

not to go up, then under a Labor Government Australians are in for

a tax on their assets.

First, they will be required to put a value on all the assets that

they own, including their house, car and property, and submit it

to the Taxation Commissioner. Then, the Government will take a

proportion of that valuation in tax;...;., Parliament House, Canberra, A .C .X '-‘Goo