The business lobby says the Federal Government should not have commissioned Treasury analysis of just three Coalition tax policies.
The Treasurer's office commissioned and then leaked Treasury analysis of three coalition tax policies it said would cost business $4.6 billion in the first year.
Labor used the Treasury costings to attack the Opposition, which prompted outrage from the Opposition about why the work was done and how it came to be published in Fairfax newspapers.
But business is not too concerned, because, as the Australian Chamber of Commerce and Industry says, the analysis did not include the Coalition's pledge to cut the carbon tax and the mining tax.
The group's director of economics and industry policy, Greg Evans, says the analysis should have been broader.
"You need to look at tax in totality," he said.
"We'll be looking at the complete tax policies of both parties and clearly some of the major elements of that including the abolition of the carbon tax and mining tax which we have opposed." The Opposition says the Government has "serious questions to answer" over the commissioning and leak of the analysis.
Yesterday, Liberal MP Jamie Briggs accused the Government of "trashing the reputation" of Treasury by leaking the costings.
But Prime Minister Julia Gillard defended the decision to release the Treasury analysis.
"It's very routine for Treasury to cost policies that are being talked about in the public domain," she said yesterday.
"No amount of spin from the Opposition gets away from the simple fact that three of the policies they say they are committed to have been costed, and they will cost businesses more than $4 billion in the first year." The three policies analysed by the Treasury include the Coalition's paid parental leave policy, which is funded by a 1.5 per cent levy on big businesses, its decision to axe the instant asset write off for small businesses that was part of the carbon tax package, and its commitment to get rid of the loss "carry back" provisions that were introduced as part of the mining tax.
It reportedly showed that businesses would lose $17.2 billion over the forward estimates once the changes were introduced.