Editorial: Sensible move
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
"The world is a better and safer place when we trade openly and honestly," says Bruce Wills, Federated Farmers president.
"This is greatly reinforced by President Obama saying to the American people that he wants to complete negotiations on the Trans-Pacific Partnership.
"We can all look forward to a great 2013 because America wants to export its way to growth just as much as we do.
"The TPP economies have a combined GDP of some US$21 trillion. The TPP places us in tomorrow's world and with tomorrow's economies like Australia, Malaysia, Singapore, Brunei, Vietnam, Chile, Peru, Mexico, Canada and the US.
"This game changer is now within our grasp for our economy and especially our primary industries.
"I recognise some people fear the TPP but did not another US President facing troubled economic times say 'the only thing we have to fear is fear itself'. In the 1930's, the world turned to protectionism and trade barriers that took a global cataclysm to resolve.
"Today, we know that trade is the best guarantor of peace and stability because it lifts living standards and understanding.
"All we want is a TPP which eliminates tariffs on all products without exception, introduces liberal rules of origin within the TPP region and ensures regulations adhere to international science based standards.
"We have the strong impression President Obama wants that to," Wills says.
