Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

My question is to the Assistant Treasurer. I refer to reports that the Assistant Treasurer has been contacting selected businesses to brief them about changes to thin capitalisation rules in tonight's budget. Given that that is market sensitive information, will the minister detail who has been contacted about changes to thin capitalisation rules ahead of the rest of the market?

David Bradbury (Lindsay, Australian Labor Party, Assistant Treasurer ) Share this | Link to this | Hansard source

Thank you to the member for his question. The question goes to matters that will be the subject of the budget this evening. Of course, I make the point that this is a government that regularly engages in consultation with all relevant stakeholders. It might come as a surprise to some on the other side, but that is a very reasonable way to engage in a systematic process of policy review.

The question goes very directly to the question of profit-shifting activities. This has been an area that I have spoken about at length. The government has absolutely no time for multinational enterprises that are engaged in profit-shifting activity—and, indeed, this is a debate that has been occurring not just in this country but all around the world.

I do make the point that, when it comes to cracking down on loopholes and protecting the corporate tax base, this government has taken some very, very strenuous measures in order to protect the revenue base. In doing so, I make the point that we have put in place measures, or brought measures into the parliament, that have sought to protect the revenue to the tune of $11 billion.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Speaker, on a point of order: this is a very serious question, and the minister is now padding out his answer. He was asked who he has spoken to in the market ahead of tonight's budget about the thin capitalisation rules, the consultation—

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business will resume his seat. The Assistant Treasurer has the call and will refer to the question before the chair.

David Bradbury (Lindsay, Australian Labor Party, Assistant Treasurer ) Share this | Link to this | Hansard source

Thank you very much, Speaker. I can understand the concern. I am simply pointing out that each of those measures that have protected $11 billion worth of revenue has been opposed by the opposition. I think that there are many mums and dads all around Australia that would want to ask the question: why is it that, on every occasion that this government has brought forward measures to crack down on multinational profit shifting, they have come into this place and voted against those measures?

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Assistant Treasurer will return to the question.

David Bradbury (Lindsay, Australian Labor Party, Assistant Treasurer ) Share this | Link to this | Hansard source

In terms of the measures that will be the subject of announcement tonight, you will have to wait till 7.30.

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Speaker, I ask a supplementary question. The Assistant Treasurer talked about consultation in his answer. As the budget is written and the lockup is going on as we speak, and the market should have had this announcement tonight when everyone could have it at the same time, can he assure the House that, in his communications with the business community today, he has not created an unfair competitive advantage for those businesses he contacted?

Opposition Members:

Opposition members interjecting—

Ms Anna Burke (Speaker) Share this | Link to this | Hansard source

The Assistant Treasurer has the call and has the right to be heard in silence.

David Bradbury (Lindsay, Australian Labor Party, Assistant Treasurer ) Share this | Link to this | Hansard source

The answer to that is no.