John Alexander (Bennelong, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline to the House how the government's plan for a stronger economy is providing relief for Australian households who are looking to get ahead, and does the Treasurer know of any different courses of action?

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

I thank the member for Bennelong for his question. He knows that the budget this year was once again our plan for a stronger economy—a stronger economy that is happening under this coalition government and that has seen more than a million jobs created since we first came to office back in 2013. The budget this year contains a responsible plan to provide tax relief to working Australians. The focus is centred on middle-income-earning Australians. It also continues the responsible plan to ensure that Australians face lower electricity prices under a Turnbull government. The personal tax plan that we've outlined provides $140 billion worth of tax relief to working Australians. That's $140 billion over the next decade.

What the Labor Party did when they came into this place last week was strip away $70 billion worth of tax relief for working Australians. They voted to strip out step 2 of the plan, which deals with bracket creep. They voted to strip out step 3 of the plan, which deals with making a simpler tax system, where the Prime Minister rightly said that 94 per cent of Australians would no longer face above a 32½ per cent tax rate. Thirty-two and a half cents would be the highest marginal tax rate they would ever face. By opposing step 2 it means that someone today who is earning less than $80,000—just a bit over $76,000—would face a higher tax rate under the Labor Party than they would under this government. This government wants to deal with bracket creep. The opposition, the Labor Party, want to keep bracket creep for themselves and spend it on whatever pops into their heads. If step 3 of that plan is not supported, then it means that mining apprentices, teachers, forklift drivers, excavators, police sergeants, crane operators, riggers and TAFE workers—all of them—will face a higher rate of tax under the Labor Party than they would under the plan that we have brought into this place. They have a simple way—they only have to do one thing—to ensure that all of those occupations don't face a higher rate of tax, and that is vote for the personal tax plan.

It's not only higher taxes that Australians will pay more for under a Labor government. Australians will also pay more for electricity. As a result of the Labor Party's reckless ideological targets, they will face higher electricity prices. On this side of the House, under the Turnbull government, we have a responsible, measured and credible plan, supported by the national Energy Security Board, which will see lower electricity prices in this country. You cannot trust the Labor Party at the end of the day, because you will pay more under Labor because their tax policies are driven by envy and their energy policies are driven by ideology.