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Monday, 18 June 2018
Page: 3059

Income Tax


Senator URQUHART (TasmaniaOpposition Whip in the Senate) (14:38): My question is to the Minister for Finance, Senator Cormann. Can the minister confirm that, under the Turnbull government's income tax plan, former Prime Minister Abbott's electorate of Warringah would be the third best-off electorate, while the electorate of Braddon would be in the bottom four?


Senator CORMANN (Western AustraliaLeader of the Government in the Senate, Minister for Finance, Special Minister of State and Vice-President of the Executive Council) (14:38): I can confirm that the good people of Braddon will be so much better off as a result of our plan for a stronger economy, more jobs and higher wages. If the people of Braddon re-elect Mr Brett Whiteley, they will get better outcomes for their electorate, better representation and a local member that stands for higher wages and more jobs in Braddon. Under Labor the people of Braddon will earn less and have to pay more. Not only are Labor going to raise $70 billion in higher income taxes but, according to Labor's numbers, they're also going to take $55 billion out of the pockets of retirees. Nobody is safe under Labor. If you're a small business, they are going to hit you for more tax. If you're an investor, they are going to hit you for more tax. If you're an income earner, they are going to hit you for more tax. If you have to buy your electricity, they are going to hit you for more tax. If you have a house that you are renting out, they are going to hit you with more tax.

The people of Braddon will be so much better off under a coalition government and under Brett Whiteley as the local member than any alternative and certainly than under the leader of the Labor Party. The leader of the Labor Party stands for less opportunity, less investment, lower growth, fewer jobs and lower wages. That is the consequence of his high-taxing, antibusiness, anti-opportunity, antigrowth agenda. All people around Australia, including the people of Braddon, will be worse off if Bill Shorten ever gets the opportunity to implement his socialist, politics-of-envy based agenda in government. I think the people of Braddon understand this. The people of Braddon, like all Australians, want the best for their kids and grandkids. They want their kids and grandkids to have the best possible opportunity to get a good job and pursue a career here in Australia. In order to secure that, we need to ensure the businesses that employ them have the best possible opportunities to be successful in the future.

The PRESIDENT: Senator Urquhart, a supplementary question.



Senator URQUHART (TasmaniaOpposition Whip in the Senate) (14:40): Given that over three-quarters of those living in Braddon will be better off under Labor's bigger, better and fairer income tax cut, will the government support Labor's plan which will see 39,000 people in Braddon up to $928 a year better off?


Senator CORMANN (Western AustraliaLeader of the Government in the Senate, Minister for Finance, Special Minister of State and Vice-President of the Executive Council) (14:41): My message to the good people in Braddon and right around Australia is that more than $200 billion in higher taxes would hurt our economy, hurt families and cost jobs. Furthermore, Bill Shorten is determined to help businesses overseas take investment and jobs away from Australia, including from Braddon, by standing in the way of lower corporate tax rates here in Australia. If we keep business tax in Australia high while all of the countries that we compete with are lowering their business tax significantly, the consequence will be that businesses and employees in other parts of the world will have a significant competitive advantage compared to businesses and employees here in Australia. Bill Shorten stands with the big end of town in New York against the small business in Braddon. Bill Shorten is standing with the big end of town in New York, helping them take investment and jobs away from Australia. That is what the modern Labor Party has come to.

The PRESIDENT: Senator Urquhart, a final supplementary question.



Senator URQUHART (TasmaniaOpposition Whip in the Senate) (14:42): Why is the Prime Minister standing in the way of Labor's plan to give an administrative assistant in Braddon earning $52,000 a year a tax cut of $928 a year, almost double the tax cut that they'll get from the government?


Senator CORMANN (Western AustraliaLeader of the Government in the Senate, Minister for Finance, Special Minister of State and Vice-President of the Executive Council) (14:42): The reason we are standing in the way of Labor's socialist, politics-of-envy driven agenda is that it will leave all Australians worse off, including all Australians in Braddon. Do you know who understands this? It is Mr Brett Whiteley, the Liberal candidate in Braddon. If Mr Brett Whiteley is re-elected by the good people of Braddon, he will stand up for investment and jobs in Braddon and the people of Braddon will have better opportunities to get a job, a well-paid job and a better paid job. Under the Labor Party, there'll be less investment and less opportunity for small business to do business with big business, which means there'll be fewer jobs in small business.

When there are fewer jobs and less competition for workers, do you know what happens to wages? They go down. Do you know what happens to wages when there's less competition for workers? The leverage and bargaining power of workers reduces. Bill Shorten wants the workers of Australia to have less bargaining power. Bill Shorten wants Australians to have less bargaining power; we want— (Time expired)