Michael Danby (Melbourne Ports, Australian Labor Party) Share this | Hansard source

Last Monday the Senate approved and passed the government's minerals resource rent tax. It, together with the petroleum resource rent tax, will be assisting Australia's businesses and workers by funding national taxation and superannuation reforms, including a cut to company tax to 29 per cent, a new break for small business from 1 July 2012 and, most importantly, incredible superannuation savings for 8.4 million Australians. The opposition oppose that tax relief for 2.7 million small businesses. They oppose that superannuation reform that will allow a 30-year-old worker on an average income to retire with an extra $100,000 in savings. Amazingly, they oppose our investment in much-needed upgrades to infrastructure across both rural and urban Australia. The Liberals do this because they are being squeezed by some of the iron and coal plutocrats. That was very clear today. Why?

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