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Tuesday, 3 May 2016
Page: 4205

Taxation


Ms CHESTERS (Bendigo) (14:27): My question is to the Prime Minister. Tonight the Prime Minister will give his Point Piper neighbours, who earn more than $300,000, a tax cut of $2,600 a year. But in the electorate of Bass in Tasmania, 82 per cent of workers will get absolutely nothing. How is it fair that the Prime Minister gives his Point Piper neighbours a massive tax cut, whilst the average workers in Bass get absolutely nothing?

Mr Nikolic interjecting

The SPEAKER: The member for Bass will cease interjecting.



Mr TURNBULL (WentworthPrime Minister) (14:28): The honourable member's question reminds me of the member for Reid's fine performance on 7.30 the other night, in which he observed that the Labor Party was so economically illiterate that they were not able to mount a credible class war. The question from the honourable member, which is an example of what we are going to hear a lot more of between now and the election, underlines the fundamental fact that Labor has nothing to run on except a class war, envy and attacks on the banks, companies and business—attacks on anybody except its own vested interests in the trade union movement. Well let me tell the honourable member—and she was kind enough to refer to the suburb in which I live, Point Piper—I do not think there are a lot of owner-driver truck owners there living in my street.

Mr Mitchell interjecting

The SPEAKER: The member for McEwen is warned!

Mr TURNBULL: I suspect there are not. But you know something: your party put 50,000 of them out of work, and thousands of them live in Labor Party electorates. It is the Labor Party that is denying to people on average earnings the ability to save and invest and get ahead. Of course, in terms of my affluent neighbours, many of whom—most of whom, perhaps—have substantial investment income, they will not be interrupted by the Labor Party's plans. They will be fine. The people that the Labor Party professes to care about have been abandoned—abandoned in their policies, abandoned in their government and abandoned when many of them were leading the trade unions who failed so dismally to represent those people.

Let me say this: the budget we are presenting tonight, the budget the Treasurer is going to bring down tonight, is one that will drive jobs and growth in our 21st century economy. It will ensure that we have a tax system that is sustainable, is fit for purpose, meets our needs in the 21st century and is fair. Everything we commit to—whether it is in health, whether it is in schools, whether it is in roads, rail or water—will be fully funded. We will do that without raising taxes as a percentage of GDP. We will do that as we bring the budget back into balance. We will do that as we deliver the growth, the jobs, the responsibility and the prudence that Australia's future demands and the Australian people expect.