Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

Minister, given that this change to franking credits will raise almost half a billion dollars in superannuation and income tax, can you clarify what the Prime Minister meant when he was quoted in the West Australian newspaper as saying:

I can confirm that Labor has heard that message clearly and that we will not be taking any changes to franking credits to the next election …

Given that this policy raises almost half a billion dollars, can you explain to the chamber and to the Australian electorate, who took the Prime Minister on his word, what he meant by that comment?