Premiers’ Conference: Howard and Costello Press Conference

This is the text of the press conference held by the Prime Minister, John Howard, and the Treasurer, Peter Costello.

It follows the Premiers’ Conference which reached a new agreement on Commonwealth-State financial arrangements.

Text of John Howard and Peter Costello press conference.

PRIME MINISTER:

Ladies and gentlemen, today we have had an extraordinarily successful Premiers’ Conference. We’ve reached agreement on all outstanding matters relating to the financial agreement between the governments which has now been signed, sealed and delivered. And the last act in the dramatic transformation of Australia’s taxation system and the last deed required to take this country into the 21st Century with a financial and taxation system fit for the 21st Century is for the Australian Senate to take heed of what the governments of Australia, the Federal Government and the six State governments and the two Territorial governments of Australia have done. [Read more...]


Agreement on Reform of Commonwealth-State Financial Relations

The Prime Minister, John Howard, has signed an agreement with State and Territory leaders to reform Commonwealth-State financial relations.

This is the text of a statement released by John Howard:

I am pleased to announce that Commonwealth, State and Territory leaders have today signed a landmark Agreement that will transform Commonwealth-State financial relations, as promised in the Commonwealth Government’s Tax Reform: not a new tax, a new tax system.

The Commonwealth has introduced legislation to provide all of the revenue from the GST to the States and Territories and to protect the rate and base of the GST in accordance with this Agreement. The Agreement will commence on 1 July 1999. As a further sign of the Commonwealth’s good faith, the Commonwealth will attach the signed Intergovernmental Agreement to the A New Tax System (Commonwealth-State Financial Arrangements) Bill 1999 and similarly the States and Territories will attach the Agreement to their legislation. [Read more...]