The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Peter Costello

Peter Costello

Treasurer

11 March 1996 - 3 December 2007

Transcript of 06/08/01

Transcript No. 2001/109

 

TRANSCRIPT

of

HON. PETER COSTELLO MP

Treasurer

Doorstop

Parliament House

Monday, 6 August 2001

8.30 am

SUBJECTS: Taxes, Christopher Skase


JOURNALIST:

I was just wondering, is it, as reported, the Government has gone soft on the possibility of income tax cuts?

TREASURER:

This Government has put in place the largest income taxes cuts, twelve months ago, the largest income tax cuts in Australian history. And we did that as part of tax reform, and the point to remember is this, that if we hadn't reformed the tax system, if we hadn't have introduced GST, a person on average earnings today would be paying 43 cents in the dollar as a top marginal rate, rather than 30. And any attempt to Rollback the GST has one consequence - higher income taxes. Beazley-Labor Rollback - higher income taxes. Under the Howard Coalition Government, GST means that we have been able to lower income taxes. And we are committed to keeping income taxes low so that people receive the results of hard work.

JOURNALIST:

But will they be cut? Because that was the expectation in the last week or so, wasn't it?

TREASURER:

Well...

JOURNALIST:

And something that you didn't disabuse anyone of.

TREASURER:

There have already been cuts and the one thing you know of...

JOURNALIST:

(inaudible)

TREASURER:

Well, the one thing you know about the Liberal Coalition Government is that consistent with good economic management we always like to keep income taxes low. That is what you know.

JOURNALIST:

Can I ask you about Christopher Skase? (Inaudible) there are very strong reports that he died (inaudible)?

TREASURER:

Look, I don't know about those reports, I can't say whether or not they are true.

JOURNALIST:

(inaudible)

TREASURER:

Look, I think that, let me say this, I think that a lot of people in Australia would have liked to have seen these matters brought to court. There are a lot creditors that were never paid their money and were entitled to know what happened and were entitled to have an opportunity to push their claims. That never occurred and I think it is a matter of concern to them and a matter of regret to everybody that was involved.

Thanks.