Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I always find it remarkable when the Leader of the National Party takes up the bat on deep questions of economic policy. The Leader of the National Party has not exhibited huge credentials in this department in the past, like the rest of the crack economic team which forms the frontbench of those opposite.

Point 1 about the RSPT is that it applies to commodities which are sold on international markets at world market prices. Point 2, if he actually spent some time examining the documents released by the Treasury in terms of the impact of this proposed tax on consumer prices, he would be enlightened further. Point 3, I find it remarkable again that the Leader of the National Party stands up here and speaks about taxes when his party is now committed to the Leader of the Opposition’s policy of introducing a great big new tax on all Australian big businesses, defining ‘big’ with a turnover of more than $5 million, in order to cross-subsidise his plan for a paid parental leave scheme. If you look at the flow-through impact of prices on bread, milk, and right across the food chain, you will see that that impact will flow through to the actual cost of living faced by working families right across Australia. That is why those opposite sitting behind the Leader of the Opposition are so deeply nervous about his great big tax proposal. I would suggest that the Leader of the National Party spends a little bit of time examining the economic documents released by the Treasury, understanding the impact of world prices, and the fact that these prices are set by world markets into which we sell our principal commodity groups.

In passing, I also note the fact, by the way, that it seems to be, as briefed out by Manager of Opposition Business, that now we have a system where the Leader of the Opposition only asks the first question, presumably, for reasons of not wishing to engage in a prolonged debate and discussion on economic policy—or on other matters perhaps. Let us just see how this goes today.

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