Lisa Singh (Tasmania, Australian Labor Party) Share this | Hansard source

I will do so, Mr Deputy President. Mr Hockey's 'end to the entitlement era', he calls it—not 'reasonable reductions in middle-class welfare for millionaires who do not need it', of course. No, the coalition's strategy is a two-pronged assault on services and support for families, in a desperate attempt to fund their $70 billion black hole and in a desperate attempt to fund the opposition leader's politically motivated policies on the run.

Surprisingly, though, Mr Hockey claimed that the coalition was not able to support a bonus—that is, the Schoolkids Bonus—that is funded by the mining tax. Could the shadow Treasurer show a greater lack of understanding in saying that the Schoolkids Bonus is funded by the mining tax? I do not know where on earth he is coming from. It is absolutely incorrect to assert that the Schoolkids Bonus has been funded by the mining tax. But it suits the coalition's argument to package up the mining tax, which they are opposed to, with the Schoolkids Bonus, which they are opposed to, and say, 'We're going to get rid of that because it's funded by that,' when that is so incorrect. Again, they are just trying to muddy the waters, to somehow make the Australian public believe the shadow Treasurer's view that the mining tax is worth getting rid of.

One thing that is very clear is that there is a stark contrast between Labor and the opposition when it comes to spreading wealth in our country and ensuring that all Australians get a fair go. Those of us in the Labor Party believe in a fair go. It is an Australian value, one that has become a mainstay in the Australian community, and therefore we look at ways we can improve policy in this country so we can ensure that all Australians receive a fair go. But the record profits coming out of the mining sector are going to a very small number of people, and some of the mining companies are not even Australian owned. When we see those resources coming out of the Australian ground and the profits going into the hands of a very small number of mining magnates, Australians think to themselves: does this stand up to that value of a fair go? Is this ensuring that Australians get some benefit from the resources that we all own—that we all own—and share in this country? No, it is not, and therefore we came up with a policy that ensures that we do all get some benefit from the profits that come from our resources.

That is why we have put forward this policy, which will do that by boosting retirement savings and lifting the superannuation guarantee from nine to 12 per cent—all things that the opposition say no to. On top of that, we are giving tax breaks to 2.7 million small businesses—another thing that the opposition say no to. We are helping viable communities get through a tough patch by investing in their workers with equipment and ideas through a loss carry-back—another thing the opposition say no to. Labor will also provide cost-of-living relief to 1.5 million families and 1.4 million job seekers, students and parents on income support. Labor will build critical infrastructure through the Regional Infrastructure Fund. The contrast between these policy initiatives from Labor and the polices of the opposition has never been clearer. It is the contrast between a party which believes in a fair go and a party which just says no and, in saying no, continues to dig an even bigger black hole for itself—$70 billion. The opposition has not yet answered to the Australian public about how it is going to fund its promises—promises which already have a $70 billion black hole. The only saving they have offered up is, as I have shared with you, the slashing of the schoolkids bonus—something that so many families in this country rely on to ensure their kids have all the necessities for their education. (Time expired)