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

I'd like to help the Leader of the Opposition, because he's never held a treasury portfolio, but the economy is some $500 billion bigger today than when Labor left office. There are some 1.7 million more Australians in work today than when Labor left office. There are some one million more women in work today than when Labor left office. I've got a news flash for the Leader of the Opposition: when more people are in work more people are paying tax and fewer people are on welfare. And I can tell you right now that the company tax rate for small businesses, which motivates those on this side of the House, is 25c in the dollar, which is the lowest level in 50 years. We have legislated through the parliament tax cuts that reform the tax system so that 95 per cent of income earners pay a marginal rate of no more than 30c in the dollar, so if you're earning between $45,000 and $200,000 you'll pay a marginal rate of no more than 30c in the dollar.

We can't match the Labor Party for a carbon tax, we can't match the Labor Party for a mining tax, we can't match the Leader of the Opposition on a congestion tax and we can't match the Leader of the Opposition on death duties. But what we can do is cut taxes for Australian families and small businesses, and that's what we do every single day. (Time expired)

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