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 the $1.2 billion figure he used in parliament yesterday in relation to the bank tax is completely misleading? The figure represents only nine months of payments compared to the full 12-month figure reported by the banks to the Australian Stock Exchange.

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

The figure I referred to was the gross cash figure for 2017-18, which is set out in the budget papers. I was asked about what the figure would be in 2017-18. That is what the figure is in 2017-18. I know that we have added an additional statement in the budget papers. There are now 11 statements in the budget papers, not 10. I know the shadow Treasurer can only count to 10—he cannot get to 11—and this may have confused him somewhat as he was moving through the budget papers.

I notice once again that that shadow Treasurer has come into this place today to run the lines of the banks. I have one question for the shadow Treasurer: which bank are you appearing for today? Which bank are you backing in today? For an opposition that say they are against a bank tax—they say they are against the bank tax but they have used every question time to raise this issue, not other issues. His sole focus in this chamber is to come into this place and represent the big banks and raise questions on behalf of the big banks.

He also comes in here and asks questions about revenue. This is the opposition that when in government gave us the mining tax, which they said would raise $12 billion—the member for Lilley remembers—and it raised $400 million. Where is the difference? I know they spent the difference, but they certainly did not raise that revenue. We have a shadow Treasurer who once boasted that 'China should float the yen'. We have a shadow Treasurer that cannot remember what threshold he lifted the tax-free threshold to. We have a shadow Treasurer who gave us GroceryWatch and Fuelwatch and, best of all, he gave us 'Boatwatch'—and we counted plenty of boats on your watch.

Opposition Members:

Opposition members interjecting—

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

Members on my left will cease interjecting.