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

Yes, sadly, I am. The biggest risk to future economic and jobs growth is Bill Shorten and the Labor Party, because the Labor Party have not learned anything from their failed past. They have not learned a thing. They are coming up with their tax and spend proposals yet again—more than $100 billion in additional taxes that would be raised under Labor over the next decade, according to their own figures, only to spend it all and more; $100 billion in additional taxes. What do you think that will do to economic growth and investment? It will undermine our successful transition from resource-investment driven growth to broader drivers of growth.

Then of course there is their proposal to increase capital gains tax, which will drive down investment. There is their ill-thought-out proposal to make changes to negative gearing, which will drive down the value of property, push up the cost of rent, reduce the level of investment in the housing sector and make it harder for middle-income families across Australia to get ahead by leveraging their existing income and assets to strengthen their own opportunities. (Time expired)