Paul Scarr (Queensland, Liberal Party) Share this | Hansard source

Thank you very much, Opposition Leader—as I believe you. 'My word is my bond.' That is what the Prime Minister said to the Australian people before the last election in the context of the stage 3 tax cuts. I have a basic principle: if you say something, if you promise something before an election, you should actually do what you promise after the election. It's a pretty basic principle, and I would have thought most Australians who voted at the last federal government election would agree with that principle. But now we have an issue. If we couldn't believe the Prime Minister before the election, when he said his word is his bond, how do we believe anything the Prime Minister says in the context of Australia's taxation policy? During the course of this question time, taxation policy in relation to negative gearing; capital gains tax, including the 25 per cent discount after one year; the non-application of capital gains tax to the principal place of residence; the mining tax; the diesel fuel rebate—a whole raft of taxation policies have now been reopened.