NO.036

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.

Melbourne

25 June 1999