FED: Aust needs good tax policy to reap rewards: Costello

AAP General News (Australia)
12-03-1998
FED: Aust needs good tax policy to reap rewards: Costello

CANBERRA, Dec 3 AAP - Australia needed to put in place good tax policy now so it could keep
reaping the rewards over coming years, just as it was now getting the benefits of policies put
in place two years ago, federal Treasurer Peter Costello said today.

Yesterday, the Reserve Bank cut official cash rates by a quarter of a percentage point to
4.75 per cent and the annual economic growth rate came in at five per cent for the year to
September, signalling the economy had withstood the first year of the Asian economic downturn.

"Home buyers now have the lowest home mortgages since the 1960s and the Australian economy
(is) growing and performing and creating new jobs for young people as a result of policies put
in place two and three years ago," Mr Costello told reporters.

"Thats why its important that we put in policies now so that we can reap the rewards of
good policy in three and four and five years time."

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KEYWORD: TAX COSTELLO

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