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

It costs $140 billion. It's $13.4 billion over the forward estimates. The measure is laid out very, very clearly. If you don't want to support it, don't support it. But I say to the shadow Treasurer: go out of this place, look all of those 10 million Australians in the eye and say, 'no tax relief for you', because that's what the shadow Treasurer is doing here. We have been very clear today. We have provided more level of detail on the cost of this measure than those opposite ever provided in opposition. The former Treasurer the member for Lilley is giggling and smiling up there because he knows what I'm saying is true. He never provided it. But we have provided it. The cost is $140 billion. When we came forward with the enterprise tax plan, we said what the 10-year cost was there too. We said today, very plainly, what the cost of the unlegislated measure is in the Senate over 10 years, which is $35.6 billion, and it's peak cost in the 10th year is $9.8 billion.

So the government has no plan to reverse the enterprise tax plan. That is not part of the government's policy. As a result, the government doesn't go around costing policies that it's not going to do. The only people who have a plan to reverse all of the enterprise tax plan are the Labor Party. If that's your policy, you cost it and then you go and tell the Australian people you are going to jack up their taxes—that's what you plan to do, because you have to because you've already spent the money. You spent it all at the last election. Labor spent all the money on the increased negative gearing, on the capital gains tax, on the higher personal tax rate for the top marginal rate, on everything reversing the enterprise tax plan, including $25 billion already for tax relief for small and medium sized businesses, which they can't wait to rip away from those small and medium sized businesses. The Labor Party has a plan on tax to suffocate the Australian economy. The Liberal Party and the National Party have a plan to give the economy the relief it needs to grow into a stronger economy, to guarantee the essential services that Australia rely on, to create more jobs and to have the government live within its means.

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