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Wednesday, 13 November 1974
Page: 2300

Senator WITHERS (WESTERN AUSTRALIA) -My question is directed to the Leader of the Government in the Senate. In view of the Government's final realisation that it is the private sector of the economy which provides the wealth of a community and allows a government to carry out its social program, will the Government provide a further impetus to the private sector by not proceeding with its capital gains tax and its misguided tax on what the Government is pleased to call 'unearned income'?

Senator MURPHY (NEW SOUTH WALES) (Attorney-General) -The statement that I read last night on behalf of the Prime Minister indicated that the Government was fully conscious of the role of the private sector of the economy. The Leader of the Opposition is, I think, mistaken if he ignores the contribution which is also made by the public sector. This has been well recognised for many years by all except the most extremely reactionary sections of the community. I am appreciative of the recognition by the Leader of the Opposition that the measures which have been announced are beneficial. We hope that he will help us to give speedy passage to the measures. He raises questions about two other matters. I think it is fair that those be referred to the Treasurer for his consideration.

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