A Palmer United Party government will abolish payroll tax to help revive Queensland’s economy and make it once again the most prosperous state in the nation, the party’s Queensland leader John Bjelke-Petersen announced at the campaign launch at Coolum today.
Mr Bjelke-Petersen said Queensland had lost its mantle as the low tax state and become uncompetitive due to the ineptitude of the current Newman LNP government and the previous Labor governments.
“Queensland has become a less favourable destination for business and our economic growth has suffered as a consequence,” he said.
“The failures of the Beattie and Bligh Labor governments and now the Newman LNP government had shut the doors on economic activity in Queensland.
“Campbell Newman’s only answer has been to try and sell or lease state-owned assets such as hospitals, ports, schools and power companies, which will jeopardize the future of our children and grandchildren
“But the Palmer United Party is ready to open the doors again for business and the removal of payroll tax which will help take our great state forward.”
Mr Bjelke-Petersen said like his father and former Premier Sir Joh Bjelke-Petersen, he was determined to restore Queensland as the number one economic state in the nation.
“Under the National Party Bjelke-Petersen Government, Queensland maintained the lowest taxes in Australia, which fuelled migration from other states and provided impetus for substantial growth in investment by the business community,” he said.
“Payroll tax, which in Queensland imposes a 4.75 per cent levy on businesses paying more than $1.1 million a year in wages, is highly inefficient and damaging to the economy.
“The Australian Chamber of Commerce and Industry (ACCI) labelled payroll tax as poor policy because there’s no requirement for a business to be profitable before being liable to pay.
“The Henry Tax Review found that of the major heads of taxation revenue, payroll tax is one of the most damaging to economic activity.
“A priority of a Palmer United Party government will be to abolish payroll tax in Queensland.
“The abolishment of this tax will see more businesses move here and head offices creating a distinct business advantage and this will translate into economic growth and restoration of business confidence.”