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

Oh yes, it was—and the Labor Party, apparently to their regret, voted for it. The reality is that the Labor Party are threatening Australians with over $200 billion of new taxes and, most shamefully of all, $5 billion a year raised by raiding the savings of older Australians, raised by raiding the savings of grandparents, self-funded retirees, by going after their tax refunds from franking credits to which they are entitled both in law and in justice.

What they are doing is, yet again, discriminating against hardworking Australians who have saved for their retirement and want to have the dignity of some independence in their retirement. Labor loathes that, just as they loathe the enterprise of all the hardworking Australian businesses that, encouraged by our tax cuts for small and medium family businesses that are already in operation, are seeing record jobs growth across Australia. Labor is the party of higher taxes, less investment and fewer jobs.

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