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Thursday, 15 June 1989
Page: 4083

Senator WALSH (Minister for Finance)(12.07) —The Treasurer gave an explicit commitment-a promise, if you like-on the contributions tax. I have said that I am not aware-I cannot say for certain that he did not because I do not have tape recordings of everything that he says-of the Treasurer ever saying that no individual would be worse off as a result of the 15 per cent tax. There has been some confusion here. Perhaps Senator Watson referred only to the contributions tax, which is being dealt with, or the effects of that tax on individuals. Many people in the Opposition have asserted that the Treasurer gave exactly the same promise: no individual could or would be worse off under the 15 per cent tax. I have said that I am not aware of the Treasurer making such a statement. I read out the relevant part of the text of the May statement to the honourable senator and I do not think there is anything more to be said about it.