Tim Wilson (Goldstein, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer update the House on how the budget is providing certainty and support to Australians with a permanent and significant disability, including in my electorate of Goldstein, and how has the budget been received by the disability care sector?

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

I thank the member for Goldstein for his question and the opportunity to join with him on the weekend before last at Bayley House, which is a wonderful institution in Brighton, where we enjoyed a morning tea. There are some 220 clients, 135 staff and 60 volunteers there. They run a comprehensive program to support around 175 adults. Peter, Bri and Mary, who have been there for some time, showed us around the facilities. All of them and their parents and families are looking forward to the NDIS coming into full operation. They were very pleased to understand and know that, in looking to provide for families and people dealing with disabilities, we were giving guaranteed, fully funded support to the National Disability Insurance Scheme. This is an issue of uncertainty and concern, and families and others who are relying on these services can know that this scheme is fully funded and paid for. What they want to be assured of is that this parliament is turning its attention to the delivery of this scheme rather than engaging in the politics of how it is funded.

The opportunity exists right now for those opposite to come to the middle, where the parliament is standing, to support the full funding of the National Disability Insurance Scheme, with the half a per cent increase in the Medicare levy two years from now. We are increasing the levy because we understand that this is a national insurance scheme, and all Australians, according to their capacity to pay, are being invited to be part of that through the increase in the levy, just as it was done by the Labor Party when they started this scheme, which was supported by those on this side of the House at the time.

Craig Wallace, former president of People with Disability, has said: 'This is a good decision to put battles over NDIS funding to bed. Disability can occur to anyone. Let's get above politics.' Therese Sands, the director of Disabled People's Organisations Australia, has said: 'We are extremely pleased to hear that an increase in the Medicare levy will fully fund the National Disability Insurance Scheme and finally guarantee the support needs of people with a disability.'

On this side of the House we are putting up the levy by half a per cent to fund what is a $55.7 billion funding hole in the National Disability Insurance Scheme. Those opposite, the Labor Party, are proposing to increase the Medicare levy not for that purpose at all. In fact, the shadow Treasurer and the shadow assistant minister have made it very clear they have no intention of putting one dollar of their increase in the Medicare levy towards supporting funding the National Disability Insurance Scheme. They are just taking a cheap opportunity to raise a tax. They have the opportunity to stand up. The entire Turnbull cabinet is fully supportive of this initiative, as is the entire ministry, as is the entire government. Those opposite are divided. (Time expired)

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

My question is to the Prime Minister. In the budget, what is the dollar value of the tax deductions forecast to be claimed by the banks in connection with the bank tax?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

The figures the honourable member raised a moment ago for the fiscal balance impact of a major bank levy totalling $6.2 billion over the forward estimates are calculated net of interactions with other taxes, principally corporate tax. The levy affects corporate and other income tax collections.

Mr Bowen interjecting—

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

The member for McMahon will cease interjecting.

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

If the honourable member would stop interjecting, I will come to the answer. That is why in the first year the net revenue received by the Commonwealth shown in the fiscal balance impact is $1.6 billion. In the second year it is $1.5 billion, and that is because of the net impact of its interaction with other taxes. The difference is the answer to the honourable member's question—that is, the cost in terms of a reduction in receipts of other taxes, principally corporate tax.