Goods and Services Tax

Mr VAN HOLST PELLEKAAN (Stuart) (14:36): Supplementary: given that the Treasurer has just said that he does not believe the GST should be broadened, does he agree or disagree with the Premier, who has publicly said that he does advocate for the GST to be expanded to financial services?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (14:36): Again, sir, another example of a Liberal front bencher verballing people. That's not what I said.

Members interjecting:

The Hon. A. KOUTSANTONIS: Go back to the record.

Mr GARDNER: There are remedies for the Speaker in this environment where a member of parliament continues to defy your rulings.

The SPEAKER: I don't think he is defying my ruling on that. There is no standing order against hurting the opposition's feelings. The Treasurer.

The Hon. A. KOUTSANTONIS: The Leader of the Opposition talked about GST on bank deposit withdrawals and cheques.

Mr Marshall: No, we didn't.

The Hon. A. KOUTSANTONIS: The Leader of the Opposition said, 'No, we didn't.' Okay. Mr Speaker, I wasn't talking about all financial services. The Leader of the Opposition asked me a specific question and I said we are going to this COAG process after having our house put in order through our own tax reform process. We are getting rid of inefficient taxation. We are getting rid of deadweight taxation that harms the economy. We are having a very efficient tax system which encourages and incentivises businesses which we think (and a lot of experts tell us) will actually go out and stimulate a lot of activity.

What the commonwealth government is asking the states to do through their green paper and white paper process on tax review is to talk about what it is we are prepared to look at. 'Financial services' is a broad piece of finance where GST could be applied. The idea that specifically I disagree with the Premier is just not accurate, just like saying—I don't want to upset the Speaker.

The SPEAKER: A very wise withdrawal. Member for Bragg, deputy leader.