Page 3381 - Week 08 - Thursday, 23 August 2012
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MR BARR: It is in the EBA. We know Mrs Dunne’s attitude to public education—that any investment in public education is throwing good money after bad. That has been on the record for years. She knows that is the position of the Liberal Party.
The budget, as we have been discussing this afternoon, also outlines important reforms to the ACT’s taxation system to ensure that taxes are efficient and sustainable in the long term. Our five-year reform plan makes taxes fairer. Abolishing a large number of taxes makes the tax system simpler, and focusing on the most efficient revenue lines makes our tax system overall more efficient.
We are improving efficiency and budget sustainability by removing those taxes that are most volatile, by abolishing stamp duty over 20 years and by abolishing insurance duties over five. We are making taxes fairer by the introduction of progressive rates and by abolishing insurance duties.
We are supporting the local housing and construction sectors through more progressive stamp duty and land tax arrangements. There is a particular incentive in this budget for investment in more affordable housing. By adjusting the rates at which land tax applies, we are providing a tax cut to those who invest in affordable housing in this city.
Our record spending on infrastructure will see the territory economy continue to grow—$900 million worth of new infrastructure to maintain employment in the construction sector and to provide for the sorts of infrastructure projects that this community needs and this community wants.
We are supporting private investment in the city through our tax policies and through our business development strategy. More land release, economic growth, social opportunity and inclusion—that is what this government is about. That is what this budget is about, and it stands in marked contrast to the alternative.
MS PORTER: A supplementary.
MR SPEAKER: Yes, Ms Porter.
MS PORTER: Treasurer, can you outline how the government’s plan will spread our prosperity more fairly?
MR BARR: The government believes that all members of the community, no matter what their circumstances or their background, should share in the benefits of living in this great city. We believe in supporting those who need a hand up and ensuring those who have the capacity to pay do pay their fair share. This budget ensures prosperity and it ensures that it is shared fairly. The government are delivering high-quality services for all Canberrans, and first and foremost we continue to invest in the country’s best health system. We have made great strides to address the damage that was done by the Liberal Party when they were last in government.
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