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

What it does is it ensures that hardworking Australians get to keep more of their own money. That was, of course, our promise leading into the election. This was the government delivering on one of the core promises that we took to the last election, and that is to ensure that hardworking Australians would get to keep more of their own money. As I say, our income tax cuts legislation delivers more money to workers' pockets. It means more money into the economy. It means that hardworking Australians—families around Australia—get to spend more of their own money on their priorities, which, of course, will help to strengthen the economy into the future. It will help create more jobs. It will help ensure that families around Australia have a better opportunity to get ahead.

Again, we will continue to explore opportunities for lower taxes, but we of course know that the Labor Party will continue to stand for higher taxes, which would lead to weaker growth and a weaker economy.