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

Of the $40 billion in budget improvement measures that we set out in our budget—he is a little excited, though, Mr Speaker—that we took to the Australian people, $25 billion of those measures related to payment savings and $15 billion of those measures related to revenue. There was a balance of the two to ensure that we bring the budget back to balance. We think we got the balance right when it comes to the balance between taxes and expenditures. As a government we have always ensured that, where our expenditure has increased, we have offset that with payment savings—not revenue increases, but payment savings. When we have gone to the Australian people and we have said that we are going to cut taxes—as we have done for personal income tax and legislated through this place—or when we have gone to the Australian people, as we have said, and we have said we want businesses, particularly small businesses with a turnover of up to $10 million, to be able to access a lower rate of tax and to access the instant asset write-off and the pool depreciation provisions, we have offset the cost of revenue—

Dr Chalmers interjecting—

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