Lisa Singh (Tasmania, Australian Labor Party) Share this | Hansard source

Labor will be voting in accordance with the principles of fairness and responsibility, voting in accordance with our values and with our principles. That is what Labor does, that is what Labor stands for and that is why we have come to the position today, through our caucus, unanimously, to support stage 1 of the government's tax package. Of course, we have our own bigger and better tax cuts to lower- and middle-income Australians, which we are urging the parliament to support. I take note of Senator Storer's comment that stages 2 and 3 are bad policy. They are tricky politics. That is what we've come to learn about this coalition government and about Malcolm Turnbull. He's very good at the tricky politics and he's very good at going back on his own values and principles.

You won't find that happening on the Labor benches. Labor is taking a much more responsible and fair approach. We are prepared—very much so—to stand by our values. We are prepared to do what we think is responsible. We also are prepared, as we've shown time and time again, to lead on the economic debate. Over the last five years we have led, we have taken risks and we have been the responsible party when it comes to our Australian budget. I believe those risks will pay off, because the Australian people will see the benefits to our country and to them individually. They will also pay off because people will see through the tricky politics and bad policy that comes about in stages 2 and 3 of the government's current package.

We will continue to fight to ensure that low- and middle-income Australians get a fair share rather than the top tax bracket being the largest beneficiary in some six years' time—some two elections down the track. It is just ludicrous that the government is putting forward tax cuts in this way for the top end of town. It's also unfair that the Prime Minister is quite happy for someone on $200,000 a year to pay the same rate of tax as someone on $50,000 a year. That is incredibly regressive. Again, that is why, when you look at this package in its totality, you find that it is unfair.

We have asked the government to split these packages in order to allow low- and middle-income Australians to get the tax relief that they need and deserve as soon as possible. It is up to the government to make its mind up on that, but we have asked that it be done. Tax relief for some 10 million Australians could go ahead on 1 July if the Turnbull government were not holding middle-income Australians to ransom while it tries to defend these other stages, particularly stage 3—its tax relief to millionaires. Millionaires in this country don't need tax relief. Why? They're millionaires; that's why. Someone on $50,000, someone on $80,000, a family trying to make ends meet and trying to get ahead—they do need some tax relief, and that is what Labor's package is all about. Malcolm Turnbull needs to recognise that. I know he probably doesn't understand what it is like to live on $50,000, but he could at least have some understanding and stop standing in the way of tax relief. Tax cuts this year for people like teachers and tradies should not be held to ransom for the sake of tax cuts for bankers and big CEOs. That is what we are asking of this government. We are saying to the Australian people that, if Labor is elected, we will almost double our tax cuts and make them permanent, while asking those in the top tax bracket to pay a little more to help reduce the debt in our country. I think that's fair. That's what Labor stands for. It's decent.