25 June 1999

Historic Senate Vote on Tax

I welcome the Senate vote today in support of the A New Tax System (Goods and Services Tax) Bill 1998.

This is an historic day for Australia as we proceed to the implementation of a new tax system for the new century.

A bill to deliver $12billion in tax cuts for Australians will be voted on in the Senate on Monday. Another bill to abolish Labor’s ramshackle wholesale sales taxes will also be voted on in the Senate on Monday.

Family welfare payments will be reformed. A generous compensation package for pensioners and low income earners will be delivered.

The new tax system will restore fairness and efficiency to a system which was in desperate need of repair. It was a task which Labor shirked while in office, and now seeks to sabotage from Opposition.

As well as delivering substantial tax cuts, the new tax system will provide a secure revenue base for the funding of our schools, hospitals, roads and other essential services.

The Government commends the Democrats leader, Senator Meg Lees and her team for their responsible approach to this issue.