Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for Reid for her question. I acknowledge her experience as a psychologist before coming to this place and her strong advocacy on mental health issues. I had the opportunity to join the member for Reid in her electorate recently to visit a small business, a family owned business, Cabelo Coffee, that is using our immediate expensing provisions to expand its production line, buy a new roaster and employ new people—exactly what this budget is designed to do. This is a budget that is designed to create more jobs and to lower taxes. There is the extension of the low and middle income tax offset, to support another 10 million taxpayers with tax relief; the extension of the immediate expensing provisions; and the extension of the loss carry-back provisions for another year. As well, there is the commercialisation of research and development, with a patent box for the medical and biotech industries.

I am asked if there are any alternative policies. We know that the Labor Party is hopelessly divided and confused.

Dr Chalmers interjecting—

I take the interjection from the twelfth man of politics, the member for Rankin: always carrying the drinks, never trusted with the new ball! He can't even get a question up during budget week! Now, the reality is the Labor Party is hopelessly divided when it comes to tax policy. You've got the member for Corio out there, effectively supporting stage 3, saying he does not want to get in the way of anyone and a tax cut. Then you've got the member for Rankin out there talking down the tax cuts because we know—

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