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

My question is to the Treasurer. Treasurer, the big four banks' disclosures to the Australian Stock Exchange show a $2 billion black hole in the bank tax. Does the Treasurer have any reason to believe these disclosures are inaccurate, given a false statement to the Australian Stock Exchange would be an offence under the Corporations Act?

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

I cast no aspersions on the banks. I cast none. They are making statements that I assume that they believe are fully accurate from their perspective. I assume they are, because that is what they are obliged to do. In this budget, which the shadow Treasurer seems to be struggling to read, he will find the estimates that the government has put forward which take into account the many other assumptions that are implicit in these types of estimates. So that is what is presented there.

But I have a piece of advice for the shadow Treasurer. He just needs to get over it. His mates at the big banks are going to be taxed. Get over it. Get on board. You say you support the tax; it is time to stump up.