Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

Thank you, Mr Speaker. The Labor Party's response to these challenging times, to an economy in transition, when we need to see investment, is to propose to raise the capital gains tax in Australia to the highest of any comparable country—higher than any other comparable country—each of which we are competing with for investment. What they are saying is, 'If you come to Australia to invest, seeking to make a capital gain, you'll pay more tax than anywhere else.' That is really going to create jobs, isn't it! That will drive jobs away. It will drive investment away. That is the Labor response.

For our part, every measure supports employment. Opening up markets in Asia, the China-Australia Free Trade Agreement, $5½ billion for small business—right across the board, every lever of our government is pulling in the direction of jobs, growth and a fairer Australia.

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