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

As a result of the pro-growth and pro-jobs economic agenda of the Turnbull government, our economy and our jobs market are heading in the right direction, despite the global economic headwind that we have had to deal with in recent years. There is, of course, much more work to be done. We have already been able to reduce the business tax rate for businesses generating up to $50 million a year in turnover down to 25 per cent, but we need to do more. We call on the Senate to support the government's legislation to reduce business taxes to 25 per cent for all businesses across Australia, because, as the current Labor leader used to say in years gone by, a more competitive business tax rate will drive additional investment, increase productivity, increase the number of jobs and increase real wages over time. That is precisely what Bill Shorten used to believe before he embraced the socialist agenda of the past. (Time expired)