Graham Perrett (Moreton, Australian Labor Party) Share this | Hansard source

I have to remind those opposite that you are committed to exactly the same emissions targets that this side is committed to. John Howard committed to them when he was Prime Minister. He was not prepared to ratify Kyoto but he started the measuring process—and, but for the efforts of Queensland farmers, he would not have been able to meet those targets. Still, I remind those opposite that they are committed to exactly the same targets.

It is important to point out that taxation as a proportion of GDP is currently 22.1 per cent, which is lower than at any time during the previous Liberal government, and that percentages are what is most important when we are talking about dollars. This is especially so in an expanding economy, though it is slightly different in a contracting economy. The people opposite understand this.

We are making life a lot easier for Australians. It is great that we have low cash rates so that a person with a mortgage of $300,000, which is the average, is paying $3,500 less in interest per year. Take the member for Warringah with his, I think, $750,000 mortgage—the one that he forgot to mention on the register of interests. The actual mortgage that is on the register of interest—

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