The Greens spokesperson for Trade, Senator Peter Whish-Wilson is calling on the government to release details of the estimated budget impact of the impending China-Australia trade deal. He is calling on the government to be upfront about what they are going to “trade away” to land the China agreement.
Senator Whish-Wilson said, “Trade deals always come with significant costs, but the government will never tell you about them.
“The recent Korea deal slashed $900 million from the budget over the four-year forecast period and it is likely that the Japan deal will cost us upwards of a billion dollars over the same timeframe.
“At a time when the government is slashing revenue streams by axing the carbon price and the minerals super-profit tax, the government needs to upfront about what the impact of the China FTA will be.
“Tariffs still make up a sizeable part of the government’s revenue base and the Henry Review highlighted that if future trade deals erode this, then alternative revenue streams will have to be found.
“By signing this deal the Abbott government will have less funding available to invest in education, health and renewable energy.
“It puts their cruel budget and chaotic management of the economy under even more pressure.
“On Monday, when Tony Abbott announces more details about the China FTA, a major question he has to be upfront about it is how much it will cost the budget in revenue,” Senator Whish-Wilson concluded.
Greens spokesperson for Trade, Senator Peter Whish-Wilson
