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

My question is to the Treasurer. I refer to the Treasurer's previous answer and I also refer to Morgan Stanley's note, issued today, which indicates the bank tax will raise $1 billion in 2017-18. Given the government has gone from claiming that it will raise $1.6 billion—yesterday by the Prime Minister—to $1.2 billion today by the Treasurer, what will be the shortfall in the bank tax over the forward estimates?

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

I note the reference that he made to the additional agency that provided a quote. They would not have been provided with a copy of the legislation.

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

Nobody has!

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

This is right. The banks have. The banks and their advisers and boards have all been provided with copies of the draft legislation, and we have continued to consult with them over the course of the last week or so. That legislation will be introduced into the parliament during this sitting fortnight, as I suggested. The shadow Treasurer is showing a rather surprising misunderstanding—

Ms Butler interjecting—

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

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

The member for Griffith then left the chamber.

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

and lack of knowledge when it comes to comes to budget measures. There are fiscal accrual measures and there are cash measures. He is basically asking questions about both of those. He would know that there is a difference between fiscal and cash. The attempt that the shadow Treasurer is trying to engage in here is to try and throw up dust. The assumptions behind the numbers hold, and the measures that have been presented in the budget are as I outlined them in my budget speech and are as presented in the budget documents. They are very clear. They set out the net cash position and the gross cash position. They set out the gross fiscal and the net fiscal position as well. They are all there to read. All you have to do is spend a bit of time reading the budget rather than playing politics.