Senator CONROY (1:52 AM) —I indicate that the Labor Party will be opposing schedule 3 of the Taxation Laws Amendment Bill (No. 4) 2002. I understand that Senator Brown also has an amendment, which we have not yet seen. I am not sure whether it has been circulated in the chamber.

Senator Brown —It will be circulated shortly.

Senator CONROY —It will be circulated shortly; thank you. The question of foreign source income for foreign executives is the substance of our amendment. We are concerned at the amount of revenue involved in a measure that will, surely, only be going to a small number of foreign executives, and we do not see the need for this. As the remarks in my incorporated speech in the second reading debate indicate, we are very unhappy about this measure. I give notice that we do not believe it is an appropriate use of taxpayers' funds to give this sort of tax break to foreign executives, particularly given their somewhat colourful and successful regimes that run some of our larger public companies. It is difficult to justify giving some of the richest people in the country $250 million worth of tax breaks at the same time as we are slugging diabetics and the disabled. Those tax breaks would cover quite a large amount—if not all—of the cuts to disability benefits, but we are used to this government's priorities; we do not expect anything different. We seek the support of the chamber, but I flag on Labor's behalf that, if we are unsuccessful, we intend to revisit and redress this issue at the earliest opportunity.