Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Thursday, 29 March 1973
Page: 953

Mr Garland asked the Prime Minister, upon notice:

In view of his statements that Commonwealth taxation increases will not be necessary to finance the many proposals of the Government which involve increased expenditure because sufficient increased revenue will be raised from growth in incomes and turnover, will he state (a) the estimated increase in expenditure as a result of decisions made and (b) the estimated increase in revenue for each month to 30th June 1974, so that these estimates can be compared with the actual figures when they become known.

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

(a)   The net increase in expenditure in 1972-73 as a result of decisions made by the present Government is estimated at about $172m.

(b)   There will be a very large increase in revenue in 1973-74 associated with the 'natural' growth of the economy. It would be premature at this stage, however, to prepare precise estimates for 1973-74 as a whole, let alone on a month by month basis. Estimates of budget revenues in 1973-74 will be prepared in the course of the next few months and presented in the Budget Speech.

Suggest corrections