The Treasurer of the Australian Federal Government, Peter Costello, has told local reporters that the tax system still has some 'wrinkles' that need to be ironed out.
He has confirmed that his new assistant, Helen Coonan, will be in charge of the changes while he focuses his attention on the economy. 'We're heading into a world where the US is now in recession, Japan is in recession, Europe has stopped and most of South East Asia is going backwards,' he said. 'I think our first priority is to make sure we can get Australia through this challenge in the best condition possible.'
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