Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

When we are able to be in a position of budget balance it will be because we were able to get expenditure below revenue. Those opposite will raise revenue and raise revenue to chase after ever-increasing expenditure.

We know that one of the big challenges that face us is that next year, in 2016-17, if you are on an average wage you will go into the second-highest top tax rate. That is where you will be. You will be paying the second-highest top tax rate if you are an average wage earner. This has happened one time before in recent memory, and, Mr Speaker, you will recall that that was back in 2000. That is when we had real tax reform, that is when we had real tax changes that supported people to go out and work, save and invest. This is our objective. It is to have a tax system that actually supports people—not a tax system that chases higher and higher government spending that we have seen from those opposite. We saw it from them in government and we have seen it from them in opposition.

What is the great lesson that those opposite have learnt in their years in opposition? Have they learnt that they should be spending less? Have they learnt that they should be taxing less? No. What they have learnt is nothing. That is the warning there for the Australian people. So, on our side of the House, we are going to focus on economic growth, because that is the thing that delivers jobs. What will deliver the jobs and the security of employment in this country is a tax system that supports Australians. (Time expired)

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