Mr CREAN —My question is to the Treasurer. I ask whether he has seen the recent comments of small business spokesman Rob Bastion:

We're most concerned about the proposal to tax trusts as companies. But that's not set to come in until 2001, so we have time to lobby the government to try and change that.

Treasurer, given that you have already put this measure off for a year, costing up to $900 million, will you guarantee not to water it down further?

Mr COSTELLO (Treasurer) —The answer to the first part of the question is no. In relation to the second part of the question, this was the government that came up with the policy of entity taxation. We remain committed to introducing it. Needless to say, I would point out that in 13 years of government the Australian Labor Party showed not one whit of interest in this subject—not one whit of interest. As per usual, it took the coalition to deal with the legacies of Labor failure and mismanagement. The Labor Party only ever got interested when it had the capacity to do nothing. When it had the capacity to do something, it showed not one whit of interest. It got interested in this issue only once the capacity to do anything about it had completely gone from it after 13 years.