Carr Busted Lying and Should be Dumped
18-February-2011
Minister Carr repeatedly denied that his R&D bill, tax credit would slash government support for business R&D in Australia. Today’s report in the Financial Review confirms he has been blatantly misleading industry.
Carr has always clamed that his proposed new research and development tax incentive would either maintain or boost Government funds for this vital area of innovation.
He has now been busted revealing that he wants his R&D Bill passed because he believes the current system to be “unsustainable” in its present form and he wants the Senate to pass his new scheme.
So Carr is admitting that his scheme will be less costly and will rip money out of R&D.
In a media releases Carr has previously claimed that there will be no reduction in spending:
• “The new R&D Tax Credit is more generous for all eligible businesses”.
(Carr media release, 31 May 2010)
• “…a significant increase in support for R&D”.
(Carr media release, 28 June 2010)
• “More businesses will get more support for research and development”.
(Carr media release, 22 November 2010)
• “Implementation of the new R&D tax incentive is to be revenue neutral”.
('The new R&D tax incentive', Treasury consultation paper, 18 September 2009)
Government tax incentives for investment in R&D are a critical tool to stimulate innovation. Mr Carr has been shown to be irresponsible and reckless in wanting to rip the guts out of R&D,” said Mrs Mirabella.
“Having lied to Australian Industry and voters, Mr Carr adds to his trail of policy destruction and must resign or be sacked.”