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

We are looking after working families right across Australia. Every working Australian in Longman and every working Australian in Braddon who pays tax is better off today as a result of the decision that the Senate made last week.

The Labor Party last week voted to impose $70 billion in higher taxes on working families around Australia. The Labor Party last week wanted to impose $70 billion in higher taxes. It didn't want us to do anything to address bracket creep, even though the Labor Party knows that letting bracket creep run rampant will lead to lower growth. Lower growth—what does that mean? It means fewer jobs. Do you know what fewer jobs means? It means higher unemployment. That's what we used to have under your period in government. When you were in government we had a weakening economy, rising unemployment and a rapidly deteriorating budget position. We've turned that situation around. We are now on a better trajectory for the future, and the people of Longman and Braddon are better off for it. (Time expired)

Senator Wong interjecting—

Senator Ian Macdonald interjecting—