Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

I am very happy to answer the question about low-income households because on this side we have a very clear plan as to how to assist low-income Australians to deal with the impact of a carbon price. We have laid them out: tax cuts for every Australian earning less than $80,000 a year, tax cuts which you will wind back. You are going to have to go to the next election with a policy of increasing taxes for all Australians, unless you are prepared to come in here and tell us how you will fund them. I would suggest, Senator, that may be a long time coming.

Let us remember, we on this side will be reducing income tax, increasing the pension, providing assis­tance to self-funded retirees with our policy. On that side we have an unfunded policy to add to the $70 billion black hole—more economic illiteracy.