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

The Labor Party do not understand basic economics, which is why they left behind a weakening economy and rising unemployment when they last lost government. Businesses will not pay higher wages because they want to but because they have to. If more jobs are being created and there's more competition for workers, then, of course, they'll have to pay more to secure their services. That has always been the key ingredient to stronger wages growth. Stronger wages growth is secure on the back of stronger economic growth and more jobs. Guess what? Higher taxes under Labor will lead to less investment, lower growth, fewer jobs and lower wages. Lower taxes will mean stronger growth, more investment and, of course, higher wages. (Time expired)