Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

I thank Senator Smith for that excellent question, and I thank her and so many of my colleagues for their ongoing commitment to improving the position of working women in this country. We on this side of the chamber know that women's equality and financial security isn't just a nice-to-have; it's an economic and social imperative. Under our tax cuts, from this year, every working woman in Australia who pays tax will get a tax cut—6.5 million hardworking women, who make so many valuable contributions to our community, will pay less tax.

Perhaps listen to this, Senator Ruston, before you interject again. The vast majority—nine in 10—will get a bigger tax cut than under Mr Morrison's plan. The Labor Party, the Albanese Labor government, want women to earn more and to keep more of what they earn. Treasury modelling also indicates that Labor's tax cuts will increase labour supply by twice as much as under Mr Morrison's plan, primarily because it will drive an increase in women's participation. That's what the Albanese Labor government's tax cuts do. Treasury advice says that this plan will help by enhancing the participation benefits of the tax cuts, especially for women, and distributing the future impact of bracket creep more evenly.

We are a government that is already delivering positive economic outcomes for women. We are addressing the cost of living and reducing barriers to workforce participation. We are delivering cheaper child care, boosting paid parental leave, supporting economic security for single parents and ensuring that women get a fair deal at work. And now we have a tax plan which ensures that every Australian woman will pay less tax. You would have thought those opposite might be celebrating that. (Time expired)