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

I thank the member for Boothby for her question. She's pleased to be part of a government that in the last 12 months has delivered 420,000 job in the Australian economy, more than 1,100 jobs a day, a record in jobs growth. She's part of a government that over the last 2½ years has seen the unemployment rate fall, business confidence lift by 10 per cent, consumer confidence lift by 10 per cent, and investment in the non-mining sector rise by 12.4 per cent in the last 12 months. This economic plan is working. It is an economic plan that must stay the course to ensure Australians enjoy higher living standards, better wages and more secure jobs into the future.

There are risks to this plan, and all those risks sit on the other side of the chamber. One of the many policies the Labor Party have been touting is their policy for higher taxes. I said in answer to a previous question that, under Labor, Australians will pay more. They will particularly pay more in higher taxes. Those taxes, to refresh everyone's memory, include a higher tax on housing. If you're one of the 32,000 nurses who own an investment property in this country, you're going to pay higher taxes. If you're out there, you've worked hard and you have been able to earn more in your life, you're one of those who are going to have to pay higher income taxes under the opposition, some $24 billion worth in higher taxes on earnings. If you're running a family business, like the member for Reid is well acquainted with, there will be $22 billion in higher taxes on you from the Leader of the Opposition. There will be higher taxes on small and medium sized businesses, but not just there; over all businesses, there will be $60 billion in higher taxes for you under Labor. You are going to pay higher taxes on your savings for superannuation, another $25 billion, as we have been discussing, and an extra $60 billion—just shy of that, at $59 billion—on retirees who will have their tax refunds swiped, stolen, taken away by the Leader of the Opposition. Now, this is the difference between the Labor Party and the Liberal and National parties. We understand, when you go out, and you go to work and you earn money, it's your money. Those opposite think they own it all when they're in government. They think a tax cut is the same as a welfare payment, and that is an indictment on every single one of them. They do not respect the earnings of Australians. They see that the earnings of Australians are all there to put in their pockets.

They boast about a war chest for the election, a war chest that will be paid for by the savings and earnings of Australians and Australian business, because they are reaching deep. The leash is off this Leader of the Opposition, and he won't tax until he— (Time expired)

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