Treasurer Joe Hockey on Wed 16.10.2013, addressed the American Australian Association in New York and discussed key short, medium and long term agendas of the Coalition Government.
- *Mr Hockey said the Coalition was “methodically going through every previously announced taxation policy that has not been legislated” and that there is a backlog dating back to 2001. He said the Coalition is “cleaning up that backlog and ensuring that stability and certainty in tax policy become enduring themes for the new Coalition”. [Apparently there are about 102 announced by unlegislated measures that must be jettisoned or legislated with a revised start date. Also, note that the 2001 date means that some of these measures go back to the previous Howard Government, so there was no room to be too smug.]
- The Treasurer discussed the Government’s plan to “bring the Budget back to surplus”. He said “we must have a realistic timetable that properly recognises the real state of the Budget”.
- Further, he said “undeliverable expenditures promised on the ‘never-never’ and taxes to be raised with legislation that is virtually undraftable will be jettisoned”.
- Mr Hockey also indicated that he expects to release the Mid-Year Economic and Fiscal Outlook before Christmas. He said it will “reveal the true updated state of the books and will establish the budgetary base on which we can build a sustainable future”.
- Mr Hockey also discussed the Coalition’s agenda to reduce the regulatory burden on businesses and noted that in Treasury alone, the Coalition had “already identified over 1,000 regulations ready for abolition”.
[LTN 200, 16/10/12]