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

Labor's policy to cut the tax rate on backpackers from 19 per cent to 10.5 per cent would cost $240 million. So it would shift $240 million in additional tax burden from foreign workers onto Australian taxpayers. And their decision to oppose any increase in the passenger movement charge would leave the budget $500 million worse off overall, given the $260 million from that measure alone.

So if Labor votes against our overall working holiday-maker reform package it will cost the budget $500 million. At the same time, they will again go after people's retirement savings. The Labor Party will again put their hands into the pockets of Australian workers and small businesses which are saving for their retirement. Lower taxes for foreign workers, higher taxes for Australian workers: that is the policy of the modern Labor Party.

I will say it again: Labor stands for lower taxes for foreign workers and for higher taxes for Australian workers. What do we stand for? We stand for fairness— (Time expired)