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

Yes, sadly, I can inform the Senate of some of the alternative proposals that have been put forward. We of course know that the Labor Party wants to reintroduce the carbon tax. We of course know that Mr Shorten and the Labor Party have not learned from their mistakes. They have not learned that the carbon tax was a job-destroying tax. They have not learned that reintroducing the carbon tax would just serve to push up the cost of electricity, push up the cost of doing business, cost jobs, cost investment—and of course they want to press ahead. We also know, as a result of the forensic questioning by coalition senators in Senate estimates, that the Labor plan for higher taxes on business will cost jobs. There was absolutely unequivocal evidence by Treasury officials that Labor's plan to increase taxes for business will cost jobs. Then of course we have Labor's $56 billion budget black hole. There is only one way Labor can fund that in the future if they ever get back into government, and that is through higher taxes. (Time expired)