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Costello suggests federal takeover

Treasurer Peter Costello has called for the Commonwealth to take the responsibility for tax, interest rates, industrial relations and ports away from the states. Mr Costello said the government needed to re-cast its arrangements with those states which had not dealt with Commonwealth revenue responsibly. The WA Chamber of Commerce and Industry welcomed his suggestions however the state government likened his plans to a power grab. WA Treasurer Eric Ripper said Mr Costello’s comments were arrogant and warned the Federal Treasurer wanted to take over all financial policy.

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