Tony Zappia (Makin, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Trade and Competitiveness. Minister, why is it important for Australia's competitiveness and for the viability of major projects to have certainty about the level of company tax rate?

Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Link to this | Hansard source

I thank the member for Makin for his question as a proud South Australian. Of course the mining industry and Australian industry more broadly would be assured that they have a political party that does not want to, nor does it have plans to, increase the company tax rate. Indeed, the Australian Labor Party, the government, has a plan to reduce the company tax rate, thwarted by the Leader of the Opposition and the coalition, the so-called 'party of low taxes'. But there is a proposal to increase the company tax rate, and that proposal comes from none other than the Leader of the Opposition and the coalition. The purpose of this 1½ percentage point increase in the company tax rate is to pay for the extra paid parental leave scheme that the coalition took to the last election. Indeed, everyone knows about that.

Everyone knows about the 1½ percentage point increase in the company tax rate, except that the Leader of the Opposition came to the dispatch box yesterday afternoon seeking a personal explanation, saying that he was misrepresented by the Treasurer and that there is no policy to increase the company tax rate by 1½ per cent. Well, why is it in the documentation? Why did the Leader of the Opposition, when asked by Greg Cary, 'It's still a tax, though, isn't it?' say, 'Well, it's a levy'? It is a levy; it is not a company tax rate increase—it is a levy. Greg Cary said, 'That's a tax.' The Leader of the Opposition said:

I accept that it is going to raise the costs for those businesses with taxable incomes in excess of $5 million a year …

That sounds like a tax to me, yet the coalition come in and say: 'We never said it. We weren't here. It wasn't us. We've been blamed. It's the Treasurer's fault.'

We heard yesterday one of the most sensational, phenomenal performances that we have ever seen, ever witnessed, when the Leader of the Opposition came in to the 7.30 report and he blamed the carbon price and the minerals resource rent tax for the decision on Olympic Dam. He was asked by Leigh Sales:

Have you actually read BHP's statements?

And his answer was no. Across the table, he said, 'I never said that.' It was on national television. He said, 'No, no, I never said that I hadn't read it.' And then today he was asked to clarify and he said, 'Yes, I had.' So, between the 7.30 report last night and today, he has changed his story. Between 3.45 yesterday afternoon and 7.30, he read it, then he forgot he read it, then he said he had read it, then he said he had not read it. I will tell you what he has been reading. He has been reading soft porn books. He has enough time to read soft porn books—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

Minister—

Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Link to this | Hansard source

but not a two-page statement from BHP Billiton. This man is mendacious. He is deceitful. He is misleading. He is untruthful. He is a purveyor of untruths. He is economically—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The minister will resume his seat! The member for Mackellar on a point of order?

Opposition members interjecting—

Order! I will not give the call to anybody until I have some order. The member for Mackellar is seeking the call and her colleagues are denying her the opportunity.

Mrs Bronwyn Bishop (Mackellar, Liberal Party, Shadow Minister for Seniors) Share this | Link to this | Hansard source

I rise to move to give the member an extension of time, and perhaps he could give us a song while he is at it.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The member for Mackellar is out of order. This is her second abuse of points of order today. She will remove herself from the chamber under standing order 94(a).

The member for Mackellar then left the chamber.

Tony Zappia (Makin, Australian Labor Party) Share this | Link to this | Hansard source

Madam Deputy Speaker, I ask a supplementary question. Minister, what would the impact on interest rates and therefore international competitiveness of unfunded spending commitments be?

Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Link to this | Hansard source

An appropriate song for the member for Mackellar would be 'Wish you luck as you wave me goodbye'—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The minister will not—

Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Link to this | Hansard source

but goodbye anyway.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The minister will withdraw. He is not assisting.

Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Link to this | Hansard source

I withdraw. I was asked about the impact of unfunded election promises—

Opposition members interjecting—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

He did.

Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Link to this | Hansard source

and that is the only other way of going about this, isn't it—to increase the $70 billion black hole to $82 billion? Again, the coalition stood up yesterday with personal explanations, saying that they never said anything about $70 billion. The shadow finance minister said this:

It’s not a furphy. We came out with the figure, right?

And, indeed, the coalition did come up with the $70 billion, which has just blown out to $82 billion because of this unfunded scheme.

This is a test of character. When the Leader of the Opposition is called to a long-form interview, he cannot perform after he goes past that script. When he is off-script he does not know what he is doing. When the issues of asylum seekers and of carbon pricing fade from the political horizon, he thinks he is on to something big. He goes in; he misleads the Australian people. This is a test of character and I can tell you this, buddy: you failed.

Honourable members interjecting—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

Order! The member for Macquarie cannot be heard.