Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Senator Milne, who is clearly trying to keep the filibuster going for a bit longer, is misleading the Senate, because I did answer that question. What I said very clearly is that this measure, which was initiated and banked in Labor's last budget by the previous Gillard Labor government, has been subject to consultation with the most important people of all—that is, the Australian people at the last election. I know that the Greens do not like the result at the last election. I know that the Greens do not like democracy, but that is the system of government that we are operating under here in Australia.

So what has happened here is that the government sought to implement Labor's budget measure, which has broadly the same fiscal impact. Actually, our saving now is slightly less than what the saving would have been if Labor's measure had been implemented. So, to the extent that there is an impact, it is going to be a lesser impact than it would have been under Labor's original proposal. But what we have agreed with Senator Wang and the Palmer United Party, after very constructive engagement, is to make this change in a better way—in a way that is fairer for businesses generating most of their profits in Australia, vis-a-vis those businesses operating in Australia who generate a significant part of their profits in other parts of the world.

The Palmer United Party—Senator Wang in particular—in relation to this legislation has taken a very constructive approach. The Labor Party and the Greens have taken a very destructive approach. I do not understand why the Greens all of a sudden now are shedding crocodile tears when they did not shed crocodile tears when the Labor Party was pursuing this. The impact of this measure now is a lesser impact than it would have been under the Gillard Labor government proposal—the Gillard Labor government, of course, having been a government that enjoyed the confidence and the support of the Australian Greens party.