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 2pm News -

View in ParlView

(generated from captions) Brisbane isn't yet dual carriageway and won't be for a number of years but here is Chris Bowen, I'll wrap up at that point and we'll let them take up the batting.More than five months as Treasurer and today we got 46 minutes of waffle, slogans and plat attitudes from Scott Morrison. The only things left on the Treasurer's much vaunted table are incompetent, confusion and indecision.Ways clear is that this was the speech that Scott Morrison didn't want to give. When he booked himself into to go to the press club he was planning on giving a speech backing in an increase in the GST. That option was taken away from him by his PM.Ways also clear is that without an increase in the GST, Scott Morrison has absolutely nothing left. No ideas, no vision, no policies. Today, we saw a Treasurer at his weakest. A Treasurer without an economic framework or a plan for Australia's economic future. It was very clear today that when Scott Morrison was talking about the GST, he bizarrely wanted to claim credit, get a pat on the back for having the courage to go through a process to then rule out a GST. He said that increasing the GST would lead to churn, that most of the money would be spent on compensation and there would be no increase in economic growth. The very things that Bill Shorten, myself and the Labor Party have been saying for more than a year. It finally took the Treasurer to get to that conclusion to justify their political decision that they're too scared to increase the GST. He didn't even get the platitudes right. He talked about spends and tax and he said, "We're holding the line on expenditure but spending eare mains the problem." Scott, they're the same thing. It's trying to claim success and failure all in one sentence. Even his platitudes didn't make sense. And bizarrely he boasted of $80 billion of savings and then lamented that his own Government had spent $70 billion of them in what seemed like a plea to his Ministers to stop spending his money. Importantly of course Scott Morrison didn't mention negative gearing in terms of an announcement of his own but he was asked to rule out applying his negative gearing clapgs retrospectively, aplaying them to Australians who have already made their investments in good faith, something the Labor Party has made very clear is not and will not be part of pour sol policy. He couldn't do. That he didn't rule out apply Israel his changes retrospectively. He's complained as the PM has done that our measures don save enough in the first couple of years. That they build over time. That's because our policy is entirely grandfathered, that it protects every single existing investor. If the Treasurer is to make that allegation, that complaint about our policy and yet refuse to rule out applying his policy retrospectively , then Australians particularly Australians with an investment property, have every right to be very worried. So again we saw a Government completely devoid of a framework, of a plan, of an idea. A Government which has been so subsumed with their internal problems with their ministerial resignations, with their campaign to increase the GST they've not been able to come up with one single positive idea for Australia's future. We've led the debate, when it comes to multinational tax, when it comes to high income superannuation, to tobacco, to negative gearing and capital gains tax. What's clear from Dees paet the threatic performance by the Treasurer is it will be up to the Labor Party to continue to lead the debate because Australia as a Treasurer who simply not up to it. Do we have any questions thank you very much.That was the shadow Treasurer Chris Bowen speaking in Sydney and Greg Jennett if you're still there in Canberra, he didn't hold back, describing it as pathetic and bereft of ideas and weak. He certainly seems to have driven home the