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

Thank you, Mr Speaker. I'll go on. It said, in the 2010 paper, 'The reduction in the company tax rate is expected to increase GDP by 0.4 per cent in the long run.' So that was just a one per cent cut in company tax. That's what Labor said. That's the advice they got from Treasury. They put it in the budget papers. It wasn't a political speech. It was right there, in the papers, signed by the Treasurer and the Minister for Finance, at the time. And the logic remains precisely the same. The reason we have cut company tax, up to $50 million turnover businesses and we're seeking to cut it for all businesses, is precisely the same logic that Labor advanced in 2010: it increases investment, increases productivity, increases wages and, of course, has a result in increasing government revenues. And you can see how much Labor thought it would do then.

In terms of the National Disability Insurance Scheme, the very simple fact is that Labor was dripping with compassion talking about the NDIS, claiming it is a great Labor enterprise and a great Labor achievement—but did not fund it. They did not fund it. You can have all of the compassion under the sun, but you cannot look into the eyes of a mother with a disabled child and say, 'I want to look after you,' and then not provide the funds to do so. So that's what we're doing with the Medicare levy, and Labor should stop their hypocrisy, stop all their bogus compassion, and get behind it and make sure that we pay for that great national enterprise of the NDIS.

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