NSW: PM rules out changes to petrol excise arrangements=2

AAP General News (Australia)
08-24-2000
NSW: PM rules out changes to petrol excise arrangements=2

Mr Howard said while petrol price rises were due overwhelmingly to the world oil price,
it was true prices could be cut by reducing the federal excise.

However, any noticeable reduction in excise would have a significant cost to the budget, he said.

"We can reduce the price of petrol by cutting the federal excise but if you want to
make a noticeable impact on the price of petrol at the present time I reckon most (people)
would want at least a five cent per litre reduction," he said.

Five cents a litre would cost the federal budget $1.57 billion a year, he said.

Mr Howard denied the government was making money out of the GST by passing on the inflationary
impact of the new tax to petrol prices.

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KEYWORD: PETROL HOWARD 2 SYDNEY

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