Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Disclaimer: The Parliamentary Library does not warrant the accuracy of closed captions. These are derived automatically from the broadcaster's signal.
ABC News 24: 9am News -

View in ParlView

(generated from captions) Affairs Minister Bob Carr speaking to 'ABC News Breakfast' program. The Federal Government Breakfast' earlier in the

coalition to support is trying to pressure the

coalition to support its plan

for a company tax cut. But the opposition won't vote for it because it's funded by the mining tax. To discuss that we're joined from Canberra by the shadow Assistant Treasurer Mathias Cormann. Good

morning. Your leader has gone

on the record as saying the

coalition supports company tax

cuts. Why is he prepared to

break this promise here? Our position has been very clear position

for a long time now. We are

opposed to Labor's mining tax because it's a very bad tax

which came out of a very bad

process. And we've said for a long time now that we will be supporting any of the long time now that we will not

promises that Labor has attached

attached to its mining tax package. So on that basis,

because Labor's company tax cut because Labor's company tax cut is actually not funded as part

of its mining tax package, we

will be clear at some time that

wr he not supporting it. Tony Abbott and other senior coalition figures coalition figures have

repeatedly said they support

company tax cuts. What message

do you therefore have this morning to your the business community and morning to your supporters in

importantly the sizeable Liberal National Party

constituency in the small

business sector? And we do

support company tax cuts. We

took a policy on company tax

cuts to the last election and cuts to the last election

we have already is stated a

tax cut in the next commitment to a modest company

election. You have quick company tax election. You have two very

plate in front of quick company tax cuts on the

plate in front of you now. Why won't you support those two?

Because they're part of a very bad mining tax package. We've

is got to remember the mining tax

unfair tax which will reduce unfair tax which will competitiveness as competitiveness as an investment destination into

Australia and of course the

mining tax, it's bad economics. It's a tax on one

It's a tax on one economy and it's a It's a tax on one sector of the

economy and it's a tax on

success. And of course not on that, it mining tax leaves the budget worse

Already now we know that over leaves the budget worse off.

the forward estimates, the forward estimates, the

government's mining tax package

will leave the budget worse off to the tune of at least $4 billion. That situation will get worse over time. We want to take a responsible course of action. We will be releasing

our policy for company tax cuts in the lead-up to the next election, when we can put it

forward as part of a fully

costed, fully funded fiscally

responsible package. Small

to you particularly in your businesses would be listening

Australia, small businesses home state of Western

buffeted by the high Australian

dollar, high interest rates, the pocket

the pocket of ratesing if up, the pocket of ratesing if

they don't want to hear the

argument about the mining tax. They've been promised a cut They've been promised a cut in

their company tax rates.

They're not about to get one.

Is it therefore right that they blame you and the Australian

measure in the Senate? Greens for stymying this

Actually no. If the Labor Party Actually no. If the Labor Party

was truly committed to the

company tax cuts, they would've introduced that legislation

together with the 11 mining tax

the Bills that are currently before

the Parliament. It is the Labor

Party that decided not to

include the company tax cuts

which they promised as part of

the package of mining tax Bills. Presumably because they knew the Greens wouldn't be supporting it. At the end of the day the Labor Party is in government with the Greens. If

they can't get the legislation

which they have promised

through the Parliament, that is really a matter for the Labor really

Party and the Greens. What we

have said is that we are

are committed to company tax committed to lower taxes, we

cuts but we are committed to deliver them in a fiscally responsible fashion. Businesses in Western Australia and

businesses across Australia

financial management. They want want us to deliver sound

us to deliver responsible

fiscal manage amendments and

they're not getting it this government and we have got they're not getting it from

a very clear course of action

T When the time comes will the and we remain committed to


coalition be offering tax cuts

similar to the ones being

proposed here by the Federal

Government? Well, you will

have to wait and see the form have to wait and see

that the company tax cuts will

take that we will be promise in

the lead-up to the next election. What I can election. What I can say is

that your company tax cuts will

be part of a fiscally responsible package. responsible package. They will

be fully funded, fully costed

and fully funded. Unlike Labor's promised company tax

cuts which is seems they're

unable to deliver, which would leave the budget worse off. At

the same time, though, the same time, though, of

committed to course, the coalition has

committed to a slight rise in

the company tax rate to fund

your parental leave scheme. How

are you going to weigh up your

two objectives here? If you go

back to what we promiseed in

the lead-up to the last

election, we did promise a paid

parental leave scheme to be funded about I a parental leave scheme which was

levy on the big (e) companies to be funded about I a small

and of course we also promised an offset in company tax cut which applied across-the-board. In the lead-up to the next election we

will be delivering a modest company tax cut and it will be part of a fully costed and

fully funded fiscally