“I find it unbelievable that they would seek to cheat their way out of paying tax and behave in this cowboy like fashion.” – Morris Iemma 20 June 2007 ABC Radio

The Iemma Government has still not received the $400 million in stamp duty it claims the Commonwealth owes the State from the sale of Sydney Airport, which took last year’s State Budget from red to black, Shadow Minister for Finance Mike Baird said today.

“Last year we heard the Premier call the Howard Government ‘cowboys’ for disputing the payment of this spurious $400 million, and last night Kevin Rudd confirmed it was a fraud all along,” Mr Baird said.

“NSW taxpayers deserve an assurance that the Iemma Government will not continue to bank on this payment to prop up another State Budget,” he said.

“Last year we saw the Treasurer unveil some brazen financial engineering to declare the Budget in surplus despite the reality of a deficit.

“There was no contribution to unfunded superannuation; the discount rate used to calculate future liabilities was inflated; and the claimed $400 million in stamp duty successfully shifted the Budget out of the red.

“Whether it is understating superannuation liabilities or relying on spurious tax invoices, it is clear the Iemma Government does whatever is necessary to make it look like the state’s finances are in order.

“Either this dispute must be finalised before the 2008-09 NSW Budget is handed down or the Treasurer must exclude it from this year’s Budget,” Mr Baird said.

MEDIA: Lisa Harrington - 0406 726 880

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