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

I reject the premise of the question. If Senator Bernardi is concerned about the levels of taxation in Australia, he should be very concerned about the possibility that Bill Shorten could become Prime Minister of Australia, because the Labor Party have already said that they would get rid of the current cap on tax revenue as a share of GDP. They have already indicated that they would get rid of the speed limit when it comes to revenue raising by government. We have imposed on ourselves a cap of 23.9 per cent on tax revenue as a share of GDP. Labor is proposing to blow that out of the water to impose an extra $150 billion worth of taxes on the Australian economy, which would mean that Australian businesses would be less successful. It would mean there would be less investment, fewer jobs and lower wages. If you are concerned about supporting the side of politics that supports lower taxes, I would encourage you to continue to support, with your preferences, the Liberal and National parties. (Time expired)