Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Hansard source

Earlier today the Labor Party decided, on this occasion, to back in the Liberal-National government's plan for lower taxes for businesses with a turnover of up to $50 million. If only they had done that in March 2017, in the absence of Centre Alliance senators here today, it would have been much better for the good health of former Senator Nick Xenophon. Labor fought us every step of the way back in March 2017 when we were trying to get the first three years of our Ten Year Enterprise Tax Plan legislated through this parliament. Labor didn't vote for it today because they believe in it. They voted for it because they made a political judgement that standing in the way of lower taxes for small and medium sized businesses would be a bad thing to do. Of course, Labor still wants to go to the next election with more than $200 billion in higher taxes, which would hurt the economy, cost jobs and be very bad for families around Australia wanting to get ahead.