Tony Smith (Casey, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

The International Tax Agreements Amendment Bill (No. 1) 2009 was introduced into this place on 19 March of this year. It amends the International Tax Agreements Act 1953 to incorporate into Australian law the two separate tax agreements signed with the British Virgin Islands and the Isle of Man. The agreement with the British Virgin Islands was signed in London in October 2008, and the agreement with the Isle of Man was signed also in London in January of this year. The coalition will be supporting the passage of this bill through the House and through the Senate. The provisions in these arrangements are consistent with other bilateral treaties that Australia has signed with other countries.

I will turn first to the agreement with the British Virgin Islands. The first section deals, in substance, with information sharing. The agreement itself provides for a complete exchange of tax information between the two countries in both criminal and civil matters. This will remove the ability of taxpayers to use the British Virgin Islands as a tax haven or to avoid their tax obligations. It expands the existing relationship, where both countries only share tax information for criminal matters, to include civil matters as well.

The second area of the agreement deals with the removal of double taxation for certain income. In addition to the exchange of tax information provisions, this agreement also ensures that certain income is not subject to double taxation. Specifically, this applies to ensure that those people employed by governments are not subject to double taxation. Under this agreement any income received from government service is only taxable by the country to which the service was provided. Currently, such income would be taxed in Australia and the British Virgin Islands. This provision does not apply to those earning income from private business or commerce.

The agreement also ensures that education related payments received by students are exempt from taxable income. This will ensure that students from Australia or the British Virgin Islands do not have to pay income tax on any payments made from their resident country for the purpose of education and maintenance.

Turning now to the agreement with the Isle of Man, again there are two substantive sections, the first dealing with information sharing and increased cooperation. This agreement provides for a complete exchange, again, of tax information between the two countries in both criminal and civil tax matters. Likewise, it will remove the ability for taxpayers to use the Isle of Man as a tax haven. Currently, both countries only share tax information for criminal matters. The agreement also commits the revenue agencies in each country to assist taxpayers in resolving any disputes relating to transfer pricing.

Turning to the removal of double taxation for certain income, again in addition to the exchange of tax information provisions, this agreement also ensures that certain income is not subject to double taxation. It ensures that income received from pensions and retirement annuities will only be taxed in the individual’s country of residence. Currently, income received from a pension or retirement annuity may be taxed in the country of residence and in the country where the income is sourced.

As in the agreement with the British Virgin Islands, this agreement also ensures that those employed by governments are not subject to double taxation. Currently, such income would be taxed in Australia and the Isle of Man. Again, as in the agreement with the British Virgin Islands, the provision does not apply to those earning income from private business or commerce. The agreement also contains the same exemption provisions relating to education purpose payments as the agreement with the British Virgin Islands.

The coalition has a long record of initiating and fostering the development of bilateral tax agreements. We recognise that these agreements encourage foreign investment and provide further opportunities for Australian businesses in overseas markets. In 2001 the coalition provided a commitment to review Australia’s international tax arrangements in our policy outline Securing Australia’s prosperity.

In its review of international tax arrangements the former coalition government implemented a package of reforms to improve the competitiveness of Australian companies with operations in overseas jurisdictions and to maintain Australia’s status as an attractive place for foreign investment and business. As part of these reforms the former coalition government undertook negotiations with more than 20 other jurisdictions to modernise Australia’s existing tax treaties and foster new tax treaties to provide a competitive and modern tax treaty network for companies located in Australia.

The agreements signed by the former coalition government greatly improved integrity aspects of administering and collecting tax from those with tax obligations in other countries. Many of those agreements signed included information exchange provisions that met OECD standards and provided reciprocal assistance for tax collection agencies. The former coalition government also undertook to expand the collection and the range of taxes that come under our international tax agreements. This strengthened economic relations between Australia and other countries and led to greater cooperation between the Australian Taxation Office and other revenue agencies in those countries.

The achievements of the former coalition government strengthened the integrity of our tax treaty network by increasing bilateral cooperation to ensure that all taxpayers pay their fair share of tax. This bill builds on that legacy. As I said at the outset, the coalition supports the bill in this House and will also do so in the Senate when it is considered there. I commend the bill to the House.

Shayne Neumann (Blair, Australian Labor Party) Share this | Link to this | Hansard source

I speak in support of the International Tax Agreements Amendment Bill (No. 1) 2009. This is an important piece of legislation because, according to the Australian Taxation Office in a submission put to the United States Senate Committee on Homeland Security and Government Affairs hearing on 7 July 2008, it has been estimated by the OECD that between US$5 trillion and US$7 trillion is held in tax havens or bank secrecy jurisdictions.

We have the Australian Transaction Reports and Analysis Centre, commonly known as AUSTRAC, in this country and other governmental institutions, including the Australian Taxation Office, that actively engage in tracking money coming in and out of Australia and in fighting tax evasion. Tax evasion irritates my constituents and, I am sure, irritates the constituents of other members of this House. These agreements which the Australian government came to with the British Virgin Islands and the Isle of Man are important, landmark agreements because they are, as the then Assistant Treasurer said in his second reading speech on 19 March, ‘the first two of their type between Australia and low-tax jurisdictions’.

The British Virgin Islands and the Isle of Man were once identified by the OECD as having certain characteristics of tax havens. Tax havens are places where certain taxes are levied at a low rate or not at all. It infuriates and frustrates ordinary taxpayers as well as businesses, companies and other entities in this country to find those people, those entities and those companies engaged in tax evasion. No-one should criticise legitimate tax avoidance and minimisation, but to simply engage in activities which mean that your fellow Australians pay a more disproportionate share of tax than is fair is simply wrong, unethical and immoral—and Australians simply hate it.

The legislation that is before the House relates to the tax information exchange agreements, as I said, that Australia entered into with the British Virgin Islands and the Isle of Man. As the member for Casey said, the agreements were signed in London in October 2008 and January 2009 respectively. With this bill we are effectively inserting the text of those agreements into the International Tax Agreements Act 1953. The outcome is a good one because it means that tax is levied on residency rather than source. It means that people are not double taxed. It also means that tax is actually levied and paid in the country of residence.

There are a number of aspects to the agreement and I am going to refer to those very briefly. It means that Australia, the British Virgin Islands and the Isle of Man will have the sole right to tax salaries they pay to individuals undertaking government functions and administration. It means that payments received by students and business apprentices will be exempt from the country they are visiting. It means that residents count. There are a number of other changes, one including a non-binding administrative mechanism to assist taxpayers to seek any resolution of disputes which may be engaged in concerning the transfer of pricing.

It is important legislation to promote ethical arrangements in respect of tax. It is important in terms of fairness, integrity and justice for Australian taxpayers but also for taxpayers in those other jurisdictions. I know that my constituents take a very adverse approach to those taxpayers who do not pay their fair share. We need to engage in these types of agreements if we want to make an important contribution to battling offshore tax evasion. If we want to participate with other countries in making sure that Australian residents and those residents of other countries pay their tax, we need to engage in these types of agreements and we need to make these agreements part of our law.

We need to make sure that we demonstrate by legislation our ongoing commitment and resolution to prevent harmful tax practices, harmful conduct, which will mean that the integrity of the tax system in this country is diminished. Every dollar that is not levied, every dollar that is not raised by tax, is a dollar that is not spent on a road, on a school, on a hospital, on Medicare or on any other worthy destination for that dollar. I live in the fastest-growing area in South-East Queensland and Queensland. Schools, hospitals, roads and vital infrastructure are simply critical to the sustainable development and ongoing growth of South-East Queensland and the Ipswich and West Moreton area. Making sure we have a tax system that levies every dollar, legitimately and lawfully raised, is simply crucial.

We need to also improve our relationships not just regionally but internationally. These agreements will improve the relationship we have with these other places: the British Virgin Islands and the Isle of Man. We need to improve our cooperation not just with those places but with the South Pacific and with Asia, and particularly with places such as Africa. The government is committed to ensuring that we have integrity in our tax system and that is why the government has so vigorously funded the Australian Taxation Office. I commend the minister for what he said and the commitment of the Rudd Labor government to providing $595.2 million over four years to help businesses remain viable in the face of the global recession and to make sure that we enhance the Australian community’s confidence and support of the Australian taxation system.

The minister said in his press release of 12 May this year that the measures we have undertaken at this very difficult time will mean that we are able to collect an additional net revenue of $1,383.6 million through enhanced compliance with our tax system. We are supporting, across four years, the Australian business community—those four million Australians involved in working in small business, the 1.9 million Australians operating small businesses and other taxpayers—to meet their tax liabilities. The ATO will invest $100.1 million. But it is the tasks we have undertaken to support the multi-agency task force in relation to Project Wickenby to continue our investigation and prosecution of those involved in the abuse of tax havens which are so critical. The government will provide $122 million over three years, starting from 2010-11.

Project Wickenby has had some success, in cooperation with the Taxation Office, the Australian Crime Commission, the Australian Federal Police, the Attorney-General’s Department and AUSTRAC, as well as ASIC and the Commonwealth Director of Prosecutions. I urge the government to expand those kinds of projects to bring greater scrutiny to international transactions to ensure that businesses and individuals do not rort the Australian taxation system. During the year ending 30 June 2009, it is estimated that Project Wickenby raised $230 million in tax liabilities and collected $40 million in cash. In addition, Wickenby collected $159 million in tax in subsequent years from taxpayers who had been subject to Wickenby actions. There are a number of practices it has targeted. We have seen prosecutions, we have seen people subject to criminal investigations and we have seen people charged with indictable offences. We have seen assets restrained under injunctive relief, we have seen tax collected and we have seen, I would argue, greater compliance as a result of the actual operation of Project Wickenby. But we need to do more. We need better cooperation and we need more financing in that regard.

We are a country that is seen as a place where people come. They engage in lawful activity. By far the majority of Australians are law abiding, taxpaying individuals who see taxation as a means of giving back, ensuring that our health and educational systems are sustainable, that our roads are better, that our society is more civilised and that in terms of our economy we are not just a stronger country but a fairer one. That is the purpose of the tax system. If we can ensure by international agreements that that is enhanced, that is a very good thing. These agreements go a long way towards ensuring international cooperation, greater political and administrative partnerships, better arrangements in terms of the transfer of money and tax being paid at its rightful source of residence. I support the bill.

Chris Hayes (Werriwa, Australian Labor Party) Share this | Link to this | Hansard source

I also rise today to support the International Tax Agreements Amendment Bill (No. 1) 2009. The amendment proposed is a significant step towards instilling greater confidence in the integrity and the fairness of the Australian tax system. This amendment, through its limited scope, is another positive move towards eliminating harmful tax practices, especially with regard to tax havens, as it reflects Australia’s commitment to combating tax avoidance and tax evasion.

I imagine that amongst constituents in your electorate and mine, Deputy Speaker Thomson, issues of tax havens probably are not the topic around various kitchen tables, but I will tell you what the topic around kitchen tables is. Australians are being called upon to pay a fair share of their tax. They do not mind paying tax. They do not mind paying their fair share. What they do not like is people who use a loophole to avoid paying their fair share of tax. This particular piece of legislation we have before us moves to do something about that. It is something that has been in the purview of our law enforcement officers to date, as we just heard from the member for Blair when he talked about Project Wickenby, which is an operation involving the Australian Crime Commission, the Australian Federal Police, the Taxation Office and the staff of AusCheck. This is a very successful but certainly ongoing operation to do something about shutting down people inappropriately using tax havens to avoid paying their fair share of tax in this country.

For too long, tax havens have eroded the tax base of many countries, including Australia, and caused not only greater complexity in the systems but also distortions in the financial and real investment flows of money within the system. As I sad, tax havens have been used by people—normally wealthy people—to avoid their fair share of tax, placing an even greater tax burden on the law-abiding members of our community. As you know, the British Virgin Islands and the Isle of Man fall within this category of low tax rates and, more importantly, also have a very high level of secrecy applying throughout their systems. However, this government has taken the initiative of working towards creating a fairer and more transparent system for all. The government wishes not only to eliminate the instances of tax non-compliance between Australia and tax havens of the British Virgin Islands and the Isle of Man; it seeks to improve the conditions of taxpayers who are involved in cross-border transactions and to remove double taxation.

Under the agreements with the British Virgin Islands and the Isle of Man, each country will have a sole taxing right over the salaries paid to their own government employees working abroad. Australia will no longer tax foreign maintenance, education or training payments received from British Virgin Islands or Isle of Man students and business apprentices temporarily studying in this country. Under Article 5 of the Isle of Man agreement, Australia will cease taxing pensions and retirement annuities paid from Australia to residents of the Isle of Man if they have already been subject to foreign tax. I think the important part; in this instance, is to ensure that there is no double taxation element applied through the tax system. These changes that are specifically aimed at the government employees, students, business apprentices and retirees will considerably improve the exchange of taxpayer information between the countries and will clarify which country has the taxing rights over certain income.

Surprisingly, as it stands, income earned in tax havens, like the British Virgin Islands and the Isle of Man, does not come to the attention of Australian Taxation Office unless it is volunteered. I find that absolutely incredible. This is what has given rise to the notion of a tax haven. People who deposit significant sums of money in a tax haven simply do not come to the attention of the Australian Taxation Office unless they volunteer that they have done so or, alternatively, it is detected through such things as Operation Wickenby. With the implementation of these changes, we will see a significant improvement in the flow of information. This will ensure an improvement in the detection of tax fraud and will act as a deterrent to those involved in cross-border transactions. We will see reciprocal taxation treatment between countries, and the amendment will greatly assist the Commissioner of Taxation to obtain information held offshore about the affairs of Australian residents and foreign residents with Australian tax obligations. In relation the Isle of Man, this amendment is also a mechanism for the resolution of transfer-pricing disputes.

The bill before us today gives legal validation to Australia’s international agreements and demonstrates this government’s commitment to the OECD’s harmful tax practices initiative, aimed at improving transparency and tax information exchange globally. I would like to also note that these changes to the legislation have been considered and approved by the Joint Standing Committee on Treaties.

We need to keep in mind that ordinary, hardworking Australian taxpayers, like those in my electorate of Werriwa, are the ones who are indirectly disadvantaged as a result of the loopholes that currently exist with these tax havens. While people can spirit money off to tax havens, a heavier burden is borne by those who legitimately pay tax in this country. As a consequence of the global economic downturn we have seen a decline in the order of $200 billion in tax revenues. It is necessary now, more than ever, to tackle the issue of taxation evasion and avoidance, instead of allowing ordinary hardworking Australian families, who pay their fair share of tax, to bear the burden. It is the right and fair thing to do. Quite frankly, for everyone standing here, it must be considered the ethical position to take.

The Australian Taxation Office has described the tax information exchange agreements as a way to ‘promote fairness and enhance Australia’s ability to administer and enforce its domestic tax laws’. I strongly believe that, by legally incorporating Australia’s international agreements into our domestic law, we are strengthening our political, economic and administrative relationships throughout the globe. I commend this piece of legislation to the House.

Nick Champion (Wakefield, Australian Labor Party) Share this | Link to this | Hansard source

I rise to support the International Tax Agreements Amendment Bill (No. 1) 2009, which brings into force two recently concluded taxation agreements. The further strengthening of our taxation system is in the interests of all Australians, as it will help ensure that we are all contributing our fair share of tax and meeting our responsibilities to the communities and nation in which we live. Tax is the price we pay for our civilised and prosperous society, and it is part of every citizen’s responsibilities to pay their fair share of tax.

This bill seeks to prevent a small number of would-be nontaxpayers—I suppose you could call them—from evading their responsibilities. The consequence of tax minimisation is to deprive the community of revenue needed to run schools, hospitals, roads, defence and the good workings of government. It also results in PAYG taxpayers—who cannot easily evade tax or set up complex arrangements—shouldering additional burdens. In fact, it appears to be the case that the people who have the capabilities to evade tax though complex diversionary accounts and structures, such as international taxation havens, are often those most capable of meeting their tax responsibilities. They are often people with significant income and assets.

This bill gives the force of law to two taxation agreements, one with the British Virgin Islands and one with the Isle of Man. The agreements were signed in London on 27 October 2008 and 29 January 2009 respectively, and this bill will insert the text of both agreements into the International Tax Agreements Act 1953. This has been an international issue for some time. These agreements achieve two outcomes of importance to the integrity of Australia’s taxation system: firstly, they provide for the sharing of information; and, secondly, they build Australia’s relationship with countries that desire to end the problem of international tax havens, which have been a big problem for a lot of countries for a long time.

Together, these two agreements and the related tax information exchange agreements, TIEAs, support Australia’s efforts to combat tax avoidance and evasion through the establishment of a transparent and effective exchange of information for tax purposes. They will promote fairness and enhance the integrity of Australia’s tax system. The TIEAs provide for full exchange of information on request in both criminal and civil taxation matters and will build upon legislation both here and in the British Virgin Islands and the Isle of Man which provides for mutual legal assistance in criminal matters This is an important component of Australia’s efforts to combat offshore tax evasion.

The agreements have been considered by the Joint Standing Committee on Treaties, which has recommended that binding treaty action be taken. This is necessary because the face of taxation haven abuse is changing and globalisation and the internationalisation of finance and money movements has made international dealings more commonplace. This means that the challenges for Australia are even greater and the challenges for the international community are even greater in responding to this problem.

That is why negotiating taxation information exchange agreements has played an important part in this government’s efforts to combat international taxation evasion. We have pursued international agreements bilaterally, like those being discussed with this bill today, but we have also continued our commitment to the multilateral process. Scandals around international taxation havens have happened in a number of countries. There was a very big one in Britain around the Virgin Islands and the Isle of Man. Very high-income individuals were hiding vast amounts of money in these tax havens. Most interestingly—although they are not subject to this bill—it is also where most international hedge funds are based and these funds, with vast amounts of money, are not subject to any international regulation at all. We think the multilateral process—the G20 meetings of finance ministers and leaders—are incredibly important forums to combat this problem. It is a very big problem. It deprives governments and nation states around the world of valuable revenue, which could be used to do so much good.

As the former Assistant Treasurer has said, it is pleasing to see that Hong Kong, Lichtenstein and Singapore have all agreed to adopt OECD standards of transparency and effective exchange of information for taxation purposes. We certainly wish the government all the best in negotiating effective exchange-of-information arrangements with all of those countries, at the earliest opportunity. Lichtenstein has a particularly bad name on this front for being a haven for tax avoidance.

These TIEAs reflect the shared commitment of Australia, the Isle of Man and the British Virgin Islands to implement the OECD principles of transparency and effective exchange of information to eliminate harmful taxation practices. I look forward to further developments in relation to this as I know that Australia has been at the forefront of global action to enhance tax transparency and information exchange, having demonstrated strong support of these proposals at the finance ministers’ meeting hosted by France and Germany in October 2008.

This complements a strong commitment by this government to international standards on anti-money-laundering and counterterrorism financing, as set by the Financial Action Task Force. I would particularly like to welcome the admission of the British Virgin Islands as a full member of the International Organisation of Securities Commissions, where it joins at least 100 other jurisdictions with recognised high standards of regulation and compliance. These standards are necessary to allow taxation enforcement measures like Project Wickenby—Australia’s inter-agency approach to tax haven abuse—to deliver on its commitments and targets. We certainly hope that the information generated by these agreements will allow those programs to be even more effective and force more tax evaders to face the consequences of their actions. We also hope that they dissuade people who might be tempted to go down this path from putting themselves in a position where they are vulnerable to the force of taxation law.

People who seek to evade the taxation system do present a very serious risk to the integrity and moral foundations of our tax system, and we should do all in our power to meet this challenge. It is very unfair for a truck driver, a shop assistant or someone who cleans this building later on tonight to have to pay their fair share of tax while other people can evade their taxation obligation to this nation. The agreements presented in the bill today will help the government do just that and will support the integrity and fairness of Australia’s taxation system. Australia is committed to the OECD’s Harmful Tax Practices Initiative, which is focused on improving transparency and the exchange of taxation information globally. We are very committed to international efforts to make sure that both our taxation systems and our finance systems are not subject to international chicanery.

This bill reinforces that commitment. It illustrates that this is a government keen to continue improving Australia’s relationship with the British Virgin Islands and the Isle of Man. For these reasons I commend the bill to the House.

Bernie Ripoll (Oxley, Australian Labor Party) Share this | Link to this | Hansard source

It is a pleasure to follow-on from the member for Wakefield in his contribution on this very important bill and I am also pleased to be speaking on International Tax Agreements Amendment Bill (No. 1) 2009. I want to put on the record my congratulations to the Treasurer as well as the Assistant Treasurer and the Minister for Competition Policy and Consumer Affairs, for introducing this bill. They have put into place some needed reform on tax evasion and some bilateral agreements in terms of taxation, to ensure that Australian citizens do not pay double tax on their employment or on the income they derive from the British Virgin Islands or the Isle of Man. It is a non-controversial bill that is supported by both sides of the House. The bill seeks to give the force of law to taxation agreements with the British Virgin Islands and the Isle of Man. The bill will enact the texts of both the British Virgin Islands agreement and the Isle of Man agreement into domestic law. It will be done via the International Tax Agreements Act 1953. This is a prerequisite to the agreements having entry into force. There is no major impact as yet or forward estimates that have been done by Treasury, and so it is welcome in all of those cases.

The issue of tax is always of great interest to all people. I have no doubt that everyone takes a lot of interest in it. While most people in some context complain about taxation generally, I think we all understand the need for fair and proper taxation, that everyone pays their fair share of tax so that governments can deliver the sorts of services that people expect, such as strong education systems as we are seeing through Building the Education Revolution and proper health provision. Certainly the Commonwealth is taking a much broader and greater interest in the provision of infrastructure across this very vast nation of ours. It is important that we get taxation right and that people pay their fair share. As we heard from the previous member, it is usually the case that PAYG tax earners—ordinary people—absolutely do pay their fair share of taxation. But sometimes, as we have seen through certain operations of the Commissioner of Taxation and other efforts that the government has put in place, there are some high net wealth individuals who seek to minimise or even avoid their tax obligations to all Australians. We will continue to work to make sure that we have got the right sort of regime in this country so that everybody pays their fair share. One of the ways to do that is through agreements with other countries, particularly in areas where wealthy individuals may use the laws of another country to avoid their duty of paying tax in this country.

So I really do welcome this agreement and congratulate the British Virgin Islands and the Isle of Man for helping process both of these agreements. The agreement with the British Virgin Islands contains provisions for the avoidance of double taxation in relation to individual income that flows between Australia and that place. The agreement was prompted by Australia’s desire to conclude a bilateral tax information exchange agreement, TIEA, with the British Virgin Islands. It establishes a legal basis for the exchange of taxpayer information between the two countries, which of course is an important tool in managing the proper tax affairs of Australia and will play its part in combating tax avoidance and direct tax evasion. These are evolving processes but processes that governments need to have in legislation to ensure that we have a proper exchange of information.

Once it takes effect, the TIEA, which was signed in October last year, will directly assist the Commissioner of Taxation in obtaining certain information so that Australian residents cannot hide information or in some way evade their tax responsibilities to all other Australians. The British Virgin Islands agreement is part of a package of additional benefits that have been offered through the arrangements we have put in place. It will also allocate certain taxing rights and prevent the double taxation of income from Australians and residents of the British Virgin Islands specifically directed at government employees, students and business apprentices.

Essentially, Australia has agreed not to tax the salaries of government employees who are working in the British Virgin Islands in government services for non-commercial purposes and a range of other activities per agreement between the two countries. We will also agree to maintain the existence of education or training payments received by students or business apprentices from the British Virgin Islands. So there are some areas where, through agreement, we do not confuse the proper employment and taxation of people in those areas with anything remotely connected to avoidance or evasion of taxation.

The Isle of Man agreement, which is very similar, has the same provisions in the avoidance of double taxation of individuals flowing between Australia and the Isle of Man. It came out of the government’s desire to conclude a bilateral tax information exchange agreement to make sure that we can access the proper and correct information of individuals who are employed or deriving some income in those areas or using the Isle of Man as a tool to avoid or evade tax. I am sure that all members of this House, and all good citizens, would agree that these are important measures for making sure that payment of a fair share of taxation by all Australian citizens is properly provided for, and we all welcome that. The TIEA was signed on 1 January this year. It will help the taxation commissioner obtain that essential information that flows between the two countries. That critical information will mean the difference between people avoiding or evading tax and people paying their fair share as part of their responsibilities to every other Australian in this country.

The issue of taxation is always raised with me at different levels in communities around my electorate and with individuals. It is always about the proper expenditure of taxation, not just in the sense that all Australians ought to pay their fair share but where that taxation money is spent. It is a great credit to the Rudd Labor government that that money is being spent well. It is being spent well through the largest infrastructure program this country has ever seen. It is being spent on the education of our kids and on the modernisation of our schools and in making sure that students have access to the best possible facilities anywhere in the world.

If we are truly to compete on an international platform in whatever areas we choose and our young people choose, then we need to be able to provide the right sorts of facilities and the right sorts of resources, and this is certainly being done by this government. We are very proud of that. Coming from the western corridor of Brisbane as I do—and I note that the Minister for Infrastructure, Transport, Regional Development and Local Government also comes from the western corridor but in a different state—I understand just how important it is to deliver that critical infrastructure and the importance of finding extra funding in tough economic times. As we have seen with the global financial crisis, this government has acted in the worst of times but provided the most that it possibly could in all of those areas. Whether it is providing much needed funding to schools through Building the Education Revolution or in the area of health or critical infrastructure, this government has provided the finance and the tools and the sort of funding that we desperately need.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! It being 2.00 pm, the debate is interrupted in accordance with standing order 97. The debate may be resumed at a later hour and the member for Oxley will have leave to continue speaking when the debate is resumed.