Eric Hutchinson (Lyons, Liberal Party) Share this | Hansard source

What every Australian knows, including those in the gallery, is that in 2007 we had a country that had money in the bank. We had the world paying us interest on the money we had in the bank. Six long years later, and we owe the world. In fact, today we are still paying the price for the unfairness that we were subjected to for six years by those opposite. There is $1 billion dollars every month that could be spent on hospitals, education, roads and other things but we cannot do that because of those opposite. There was nothing fair about what Labor did to our nation in six short years. All they know is how to tax more, borrow money and then spend it—other people's money. But we have a plan for a stronger economy, a more diverse economy, as we transition from the very important mining production phase, a phase that saw so much prosperity wasted by those opposite. Our nation's record revenues were squandered by those opposite who only new how to spend. We have a plan for jobs and growth.

I say to those who may be listening today, 'If you work for a business with a turnover of less than $10 million, your job is now safer because the taxation rate that your employer was paying yesterday, from 1 July, will be reduced from 30 per cent down to 27½ per cent, enabling them to invest more—quite probably enabling them to expand their business and employ more people. They will now be able to access the instant asset write-off—which may enable them to invest in a new piece of equipment which will make the job in which you are employed safer and more productive. If you are struggling to find a job, we understand.' I know the member behind me would acknowledge that the PaTH initiative is a wonderful initiative to prepare and train our young people who are struggling to find work, and if we train these young people we will see opportunities within business for them to get a real job.

I ask the question: do you think it is unfair that some multinational corporations operating in Australia do not pay their fair share of tax? Despite Labor's best efforts, we changed that. Those opposite voted against the measures that we put before the parliament in December. Lo and behold—and I know this will amaze you as well, Deputy Speaker—we were supported in the Senate by the Greens. Stranger things have happened, I know. Those opposite voted against it. We have extended those laws. We have increased them, with new anti-avoidance tax laws, and the diverted profits tax is expected to raise $650 million over the next four years. We have put penalties in place of up to 40 per cent for businesses that are found to be diverting profits overseas. That is fair.

Do you have children? Do you have a healthcare card? Do you need dental work? Have you been to the dentist in the last six months? We have increased access to the public dental scheme: $1.7 billion for 10 million children and adults. Before, there were only three million people in Australia who were able to access this scheme.

Do you own a car? Do you take the bus? Do you use trains? Do you think the infrastructure in your area needs further work? Over the last three years we have delivered the biggest infrastructure investment that our nation has seen—$50 billion. This is the biggest investment in our nation's history, funding smart infrastructure projects that create jobs and growth. This is part of our plan for a smarter Australia—safer and easier transport. In my own state, local councils are benefiting through the Roads to Recovery program, and we have seen significant investment in the Midland Highway, in the Black Spot Program and in the Bridges Renewal Program.

Do you use schools or hospitals? I see the young people up in the gallery. Do you understand, Deputy Speaker, that if you use schools or hospitals you can be guaranteed that the funding is now there to support you. Do you think, as I started out by saying, that governments should live within their means—in the same way that the families in the gallery and the businesses all around Australia are forced to do everyday? Governments should have the same obligation. We are the custodians of the taxes that we take from businesses and individuals all over Australia. For those on the other side, the plan is to tax more, to borrow more and to spend more of your money. (Time expired)

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