Andrew Barr has been forced to table documents in the Assembly that show the analysis and models for his tax reform program. Despite vehement claims to the contrary during the election campaign, the documents show there is no possible scenario for rates not to triple when the reforms are implemented, Leader of the Opposition Jeremy Hanson said today.
“ACT Labor’s data tabled in the Legislative Assembly today definitively shows that rates will more than triple under these reforms, the only thing that changes is how long it will take to happen,” Mr Hanson said.
“It ranges from a period of seven years (Table 4 pg 10), to an outside period of 15 (Table B1 pg 26), but rates triple.
“Worse still, tripling is the lowest amount rates are increased under these reforms.
“From the pre reform rates revenue of $183 million, under a low growth scenario prepared by the Government, rates will quadruple (Table B1 pg 26).
“In a medium growth scenario they would increase 5.5 times (Table B2 pg 27), while under a high growth scenario they would increase 7.6 times (Table B3 pg 28).
“These are not our numbers, they are the numbers contained in the papers presented today by the Government,” Mr Hanson concluded.
“Andrew Barr has been given every opportunity to demonstrate how rates won’t triple, but he has presented not one scrap of paper to show how that can be done. Frankly, he cannot produce it because it cannot be done,” Shadow Treasurer Brendan Smyth said.
“It now seems clear that Andrew Barr and Katy Gallagher misled the people of Canberra when they said, point blank, that rates won’t triple,” Mr Smyth concluded.