FED: Beazley says GDP figures show no need for GST

AAP General News (Australia)
12-02-1998
FED: Beazley says GDP figures show no need for GST

CANBERRA, Dec 2 AAP - Australias strong economic growth showed there was no need for the
country to introduce a GST, Opposition Leader Kim Beazley said today.

Mr Beazley said the stronger than expected annual growth of five per cent in todays
September quarter national accounts figures put the lie to Treasurer Peter Costellos claim
Australias economy was being held back by the existing tax system.

"Mr Costellos out there saying we are the strong man of Asia," Mr Beazley told reporters.

"Which are the three countries in APEC that have done best over the course of the last
couple of years? Australia, China and the United States.

"What do they all have in common? No GST."

Mr Beazley said todays figures showed Australia had finally been able to return to the
sort of growth achieved by the former Labor government, before the Howard government flattened
the economy with its first budget.

"Wed have been having the sorts of Labor-type growth figures which we now at last have
again after three years," he said.

"Wed have been having the Labor-type growth figures for the last three years instead of
the last one."

Mr Beazley said the impact of the Asian crisis on Australia would only become apparent over
the next two years.

"You ask Mr Costello if he thinks hes going to get five per cent next year," he said.

AAP ss/mfh/cjh

KEYWORD: GDP BEAZLEY

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