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Thursday, 9 December 1971
Page: 4625

Mr Uren asked the Treasurer,' upon notice: ls he . able to give details of the cost to . the Commonwealth and State Treasuries of all direct and indirect subsidies or bounties paid in 1970-71, and the estimated cost in 1971-72.

Mr Snedden - The answer to the honourable member's question is as follows:

Commonwealth assistance to Australian industry is provided by way of bounties, subsidies and other payments, and by way of contributions to promotion and research. Details of those payments for 1970-71 and estimates for 1971-72 are set out in statement No. 9 attached to the Budget Speech. Particulars for 1970-71 of Commonwealth assistance to industry through the taxation system, representing for the most part taxation revenue, foregone through concessions in the income tax law, are also set out in statement No. 9.

A preliminary estimate of subsidies by State Governments in 1970-71 is $18m. Although a detailed break-up of State subsidies is not yet available, the major part would consist of freight concessions. An estimate for 1971-72- is not yet available. Information is not available regarding assistance to - industry through State taxation systems.

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