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

In Australia, monetary policy and fiscal policy are absolutely heading in the same direction. Our budget is a pro-growth budget. Over the last two financial years, we have put forward $302 billion worth of income tax relief for hardworking families and a hundred-billion-dollar infrastructure investment pipeline. Of course, the Labor Party is arguing in favour of higher taxes. As to their current proposition—maybe that might be position five or seven; I don't quite know the page—their current position is to have lower taxes because that helps the economy, but they're arguing at the same time that we should have higher taxes in case there is trouble in the economy down the track! The Labor Party position on tax and on economic policy makes no sense at all. I think you need to go on a retreat and seriously think about it, and see what your consensus position actually is.