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

This government is cutting taxes. In fact, we have already cut some $20 billion in taxes over the last 2½ years. We gave small business a tax cut to 28½ per cent. We introduced the instant asset write-off. We abolished the carbon tax. We abolished the mining tax. In the national innovation statement we introduced the capital gains tax exemption for innovative new start-ups.

On this side we believe that Australians are better off when you have lower spending, which means that you can have lower taxes. That is our plan. We want to reduce the tax burden on Australians. Those opposite seem to think the policy debate in this country is a race to see who can raise taxes the highest. We are not in that race. We have no interest in being in a race about raising taxes. Those opposite want to raise taxes to spend more money.

Mr Brendan O'Connor interjecting—

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