Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator McKim for the question and his ongoing interest in this portfolio space. I recognise, and I think we all recognise in this chamber, that there are different views around the stage 3 tax cuts, but our policy and our position on those tax cuts haven't changed. Our priority when it comes to tax reform is the tax reform we outlined in the October budget, which is around ensuring multinationals pay their fair share of tax here in Australia. We also acknowledge that those tax cuts aren't scheduled to come in until 2024, and we are focused on the near-term challenges in the economy, including how we ease cost-of-living pressures on households. The inflation challenge and dealing with the associated cost-of-living impacts that it's having are our main focus in terms of the economic portfolio.

But you raise a broader question as well, around the budget and pressures on the budget. There is no doubt that the economic and budget vandals that sit opposite us had left the budget in such a terrible state—