Australian Government moves to drop prices at the pump.

Further ways to cut the price of petrol at the bowser are under scrutiny after the Federal Government said it would look at revenues from petrol in its planned tax review.

The tax review was announced in this month’s federal budget, but ministers Jenny Macklin and Chris Bowen confirmed today the review also would investigate whether GST charged on top of the petrol excise should be scrapped.

The move comes amid continuing debate over high petrol prices and how much the government receives in revenue. …..
Ms Macklin said issues such as the tax take on petrol had not been looked at in a long time.

“That’s one of the issues that we will address in this major tax inquiry that the treasurer announced,” she told the Nine Network.
“(Prime Minister Kevin Rudd) has announced the detail of the inquiry that will look at the issues that you’ve just outlined and a wide range of other critical matters that haven’t been looked at for such a long time.”

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