Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

They make announcements, but they can never deliver in relation to tax policy. So we introduced legislation to crack down on thin capitalisation rules for larger businesses. That legislation has now passed through the House of Representatives and it has passed through the Senate. It is awaiting royal assent. The fundamental principle here is this: whenever the Labor Party talk about tax they screw it up, whether it be the mining tax, which was meant to bring bountiful money into the coffers of the Commonwealth and it delivered 2½c per Australian, whether it be the carbon tax, which was an absolute disaster for Australian business—and we got rid of that—or whether it be a raft of changes announced in the last budget that Labor never had the guts to legislate because they never could. They could not deliver on their words.

See this speech in context