Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. Is the Treasurer aware that last week he failed on no fewer than 12 occasions to confirm that the entire $50 billion handout to big business would be in his budget this year? Is the Treasurer also aware that over the weekend the Prime Minister did what he could not and confirmed the entire tax cut would be in the budget? Given the Treasurer's clear incompetence, will he now stand down and take a pay cut, instead of inflicting a pay cut on 700,000 Australians?

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

Later this afternoon the shadow Treasurer will have the opportunity to walk into this parliament and vote for something he says that he has always believed in. He has said:

… it's a Labor thing to have the ambition of reducing company tax, because it promotes investment, creates jobs and drives growth.

He has said:

It is a statement of fact which I agree with.

He agrees with himself. He says:

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

The Leader of the Opposition has said that reducing the corporate tax rate flows on to workers in the form of higher wages, therefore improving standards of living. That is what he told ACOSS, and he has also said that cutting the company income tax rate leads to more jobs and higher wages.

If they believe in better wages for Australian workers, if they believe in more investment, if they believe in a growing economy, then what they should do this afternoon when this bill is before this chamber is come into this place and vote for it. If they refuse to vote for it, they have exposed not only their hypocrisy but also the shallowness of their thinking and the weakness of their resolve.