Jim Chalmers (Rankin, Australian Labor Party, Shadow Parliamentary Secretary to the Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Treasurer. I refer to the government's centrepiece—

Mr Taylor interjecting—

Mr Laundy interjecting—

Mr Ciobo interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Rankin will resume his seat just for a second. The members for Hume and Reid and the Minister for Trade and Investment will cease interjecting. The member for Rankin will begin his question again. The clock will start again.

Jim Chalmers (Rankin, Australian Labor Party, Shadow Parliamentary Secretary to the Leader of the Opposition) Share this | Link to this | Hansard source

Thanks very much, Mr Speaker. My question is to the Treasurer. I refer to the government's centrepiece $50 billion handout to big business. Today in question time the Treasurer said the government would not recoil from its company tax cut. Does the Treasurer guarantee that the full $50 billion handout will remain on the books in the budget?

Ms Henderson interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Corangamite will cease interjecting. The Treasurer has the call.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I invite the members opposite to support the government's plan. I invite them to support the government's plan because we are committed to the plan. I refer you to the comments of the shadow Treasurer who said this on 22 September 2015. He said:

It is a statement of fact which I agree with.

I have previously said the nation should be aiming for a 25 per cent corporate tax rate.

Dr Chalmers interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Rankin is warned!

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

It is all lined up, mate. It is all lined up. All you have to do is come into this place and vote for it and you will hit it—you will hit the target that you said you want to hit.

Mr Watts interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Gellibrand is warned!

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Your problem, mate, is you cannot see—

Honourable members interjecting—

I am sorry—he is not my mate.

Tony Smith (Speaker) Share this | Link to this | Hansard source

The Treasurer will resume his seat. The Manager of Opposition Business will resume his seat.

Ms Henderson interjecting—

The member for Corangamite is warned! I refer all members to my statement yesterday, particularly those who were warned yesterday. The Manager of Opposition Business on a point of order.

Mr Tony Burke (Watson, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

Thank you, Mr Speaker. Just on comments being made through the chair. Other than that, at the end we agree.

Tony Smith (Speaker) Share this | Link to this | Hansard source

The Treasurer knows what he has to do. The Treasurer has the call.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Thank you, Mr Speaker. I will ensure that I do so. The point is this: this government took a plan to ensure that company taxes were competitive in this country and that they would remain so, and those opposite, the Labor Party, for years and years and years have said on the record, up hill, down dale, that they support reducing the tax burden on businesses, and the shadow Treasurer himself has nominated the rate of 25 per cent as his great aim. He must have the worst aim there is in this place, because, despite us lining this up for him, he cannot hit it. We have delivered a bill into this parliament and all he has to do is vote for it and he will hit it, but he refuses to do so. It is not because I think the shadow Treasurer all of a sudden does not believe that reducing these tax rates for businesses will not actually lead to an increase in investment or an increase in jobs or an increase in wages. It is not any of these things. I actually believe the shadow Treasurer still believes absolutely in what he wrote—that if you reduce company taxes you will get the outcomes of better growth, better investment, more jobs, increased wages. This is what makes the hypocrisy of this decision all the more profound. The shadow Treasurer knows this is the right policy, but he has bowed his knee to the desperate populism of the Leader of the Opposition who, since he became Leader of the Opposition all those years ago, has not announced one policy that will create one job—

Mr Watts interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Gellibrand will leave under 94(a).

The member for Gellibrand then left the chamber.

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

that would invite one business to invest one dollar so they could actually get people earning higher wages and seeing our economy grow. When it comes to economic policy, the Leader of the Opposition is just a sucking vacuum.