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AUSTRALIAN PM FLOATS TAX CUT AFTER STRONG SURPLUS RESULT.
CANBERRA, Oct 1 Asia Pulse - Prime Minister John Howard today raised hopes of a tax cut after saying it remained the government's preference to return any unexpected surplus to the taxpayer.
Treasurer Peter Costello yesterday unveiled a A$7.5 billion (US$5.13 billion) budget surplus for the last financial year, almost double what was forecast.
The bumper surplus has raised hopes of a pre-election tax cut next year.
Mr Howard said if after all expenses had been met there was money left over, he would expect it to be returned to the taxpayer.
"It is our view that if you do have more than you expect because of the strong economy, after you have met all necessary and socially desirable expenditures, what is left over should be returned to the people who gave the money in the first place and that is ...
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Source: HighBeam Research, AUSTRALIAN PM FLOATS TAX CUT AFTER STRONG SURPLUS RESULT.