Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

My question is to the Minister representing the Treasurer, Senator Cormann. On 23 April the Assistant Treasurer said: 'The housing package will be extraordinarily large. It will be far reaching. It will deal with all the groups on the spectrum of housing. It will be an impressive package. It will be a well-received package.' On last night's 7.30program, John Daley, of the Grattan Institute, said, of the budget's housing affordability measures, 'You'll need a scanning electron microscope to see an impact on prices.' Isn't it clear that, after months of promising the world that the budget would deliver on housing affordability, the budget's housing affordability package is a dud?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

The answer to the last question is no. Of course I fully support and endorse the very eloquent remarks made by my good friend and colleague Michael Sukkar.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Cameron, a supplementary question.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Again on last night's 7.30 program, Ms Bree Marr, who with her partner is trying to save for a home, said of the superannuation salary sacrifice measure in the budget, 'It wouldn't even cover your stamp duty.' Isn't Mrs Marr correct?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

I am not aware of the personal circumstances of the lady you have mentioned and I am not aware of what first home she may aspire to purchase. Obviously that is all relevant information. What I can say is that the government, in the budget, has put forward the most comprehensive package to improve housing affordability for first home buyers ever delivered by any government at a federal level. Of course, in the next few weeks and months, we will have the opportunity in the Senate to legislate many components of it.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Cameron, a final supplementary question.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Minister, where is the fairness, security and opportunity in the government's housing affordability package, which delivers absolutely nothing for people like Bree Marr and her partner?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

I fundamentally disagree with the assertions made by Senator Cameron. To the extent that there is a housing affordability challenge in some parts of Australia, of course that is a function of demand and supply. To the extent that demand exceeds supply, prices go up. Once supply exceeds demand, prices come down. In this budget, the Treasurer and his team have been able to put forward a very comprehensive package of measures to boost supply, including through the release of Commonwealth land that is no longer required, which will lead to significant additional housing developments, and through a $1 billion infrastructure package targeting local councils, in particular, helping them to remove barriers towards the development of further land release. And there are a whole range of other measures, which, all taken together—

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

You cannot even name them.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Well, I am running out of time. There is so much in it that I have not got enough time to take you through it all. (Time expired)

Christopher Back (WA, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Infrastructure and Transport, Senator Nash. Can the minister advise the Senate how the 2017 budget delivers the infrastructure investments needed to create jobs, lift national productivity and drive Australia's economic growth into the future?

Fiona Nash (NSW, National Party, Deputy Leader of the Nationals) Share this | Link to this | Hansard source

I thank the senator for his question and acknowledge that he is one of the most hardworking senators in this place. I am absolutely delighted to outline some of the significant and truly nation-building initiatives the coalition is delivering through this year's budget. The government is delivering a record $75 billion in infrastructure funding and financing, including a $20 billion commitment to passenger and freight rail. The investments we are making will unlock the potential of our cities and our regions. The $8.4 billion for the inland rail will be nation changing. Others have been talking about it for years, but it is this coalition government that is delivering the inland rail. We will also invest $10 billion to establish a national rail program which will transform our cities and our regions by better connecting our cities, suburbs and surrounding regional areas right across Australia. Our commitment to rail as part of this year's budget also includes a $500 million regional Victorian rail package which will improve the regional rail network, including the North East line, the Gippsland Line and the Geelong Line, as well as a study into improving the Shepparton line.

Senator McKenzie interjecting—

Thank you, Senator McKenzie. In addition to rail, this year's budget also sees a significant investment in roads right around the nation by investing $6.7 billion to upgrade the Bruce Highway; $192 million into the Northern Territory as part of the Northern Australia Roads Program; in Victoria, delivering on the $392 million for 35 projects promised at the last election, such as the Echuca-Moama bridge; in South Australia we are investing $85 million to upgrade the APY Lands' main access road, which will support 55 jobs during construction; in New South Wales, we are finally making the Western Sydney Airport a reality, with a $5.3 billion equity funding injection.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Back, a supplementary question.

Christopher Back (WA, Liberal Party) Share this | Link to this | Hansard source

I thank the minister for her response and ask: could the minister outline whether the coalition government is delivering the infrastructure Australia needs to improve connectivity, productivity and livability in our cities and our regions, particularly in my home state of Western Australia?

Fiona Nash (NSW, National Party, Deputy Leader of the Nationals) Share this | Link to this | Hansard source

I was in Western Australia recently and saw firsthand the improvements and how the investments this government is making in Western Australia are making the lives of the people living there better. This year's budget builds on those investments and delivers another $1.6 billion in a $2.3 billion road and rail infrastructure package for Western Australia. To ease congestion and improve connectivity across Perth, we are investing $792 million for the Perth Metronet, which is a massive investment in that city's urban rail infrastructure, and will include projects such as the Thornlie to Yanchep line. We are also investing up to $490 million in the Forrestfield-Airport Link—a project that will support 2,000 jobs during the construction. But there is more. We are also investing $648.3 million in the Swan Valley Bypass, which will support 750 jobs during the construction, and that is just the start.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Back, a final supplementary question.

Christopher Back (WA, Liberal Party) Share this | Link to this | Hansard source

This is good news, Mr President. I ask: can the minister advise the Senate how the coalition's $75 billion investment in infrastructure funding and financing has been received within the community?

Jacinta Collins (Victoria, Australian Labor Party, Shadow Cabinet Secretary) Share this | Link to this | Hansard source

Not very well!

Fiona Nash (NSW, National Party, Deputy Leader of the Nationals) Share this | Link to this | Hansard source

I will take the senator's interjection, 'Not very well!' She is indeed misleading the Senate. It is being very, very well received. There has been widespread support. Pricewaterhouse says bringing forward spending on close to $50 billion worth of infrastructure, including Sydney's second airport, the Brisbane to Melbourne inland rail, WA's Metronet and a widening of the City Deals program is a bold, positive move that will turbocharge productivity. The National Farmers Federation say that $8.4 billion for the Melbourne to Brisbane inland rail is the real crown jewel in tonight's budget, for the farm sector. This is a significant investment in the efficiency of our industry, better connecting our farms with new markets here and overseas. The Australian Automobile Association says the 2017-18 budget is a win for road safety. There has been incredible support for this coalition's budget that is going to take this nation forward into the future.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister. What is the revised cost of the government's 10-year company tax cut?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

I can tell you—and I am, in fact, advised by my colleague Senator Cormann, the Minister for Finance—that the 10-year costs from 2016-17 are $24 billion already legislated and $26 billion to come. The 10-year costs from 2017-18 are $29.8 billion legislated and $35 billion yet to come, a total of $65 billion.

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Wong, a supplementary question.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Can the minister explain why a budget that makes low- and middle-income Australians pay more whilst delivering a now $65 billion tax cut to big business is fair?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

I am delighted to, Senator Wong. It is fair that Australians have more jobs and better paid jobs, and that is what our Enterprise Tax Plan will deliver. Senator Wong, I should not have to explain this to you, because you were a minister of a government at a time when Mr Bill Shorten, as a minister, made the very same point: company tax cuts would enable businesses to employ more people and offer the people they employ better wages. For my money, Senator Wong, that is fair. And not only I believe it is fair; you used to believe it was fair and Mr Shorten used to believe it was fair. In fact, Mr Shorten used to advocate it, but he no longer does. I will tell you what else is fair, Senator Wong: Australians should pay for their fellow Australians who suffer from a disability. And that is what we have secured with this budget as well. (Time expired)

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Wong, a final supplementary question.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

Can the minister advise how much of the Medicare levy being imposed on low- and middle-income Australians will be directed to paying for the $65 billion worth of company tax cuts?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

None of it will be directed to that, Senator Wong, but I will tell you what it will be directed to. When the Medicare levy increases by half a per cent in two years time, every cent of it will be directed to funding the National Disability Insurance Scheme.

Senator Cameron interjecting—

You talk about the battlers, Senator Cameron. What about Australians with a disability? Why don't you care about them? Since I have been discussing this budget with my constituents, I have not heard one person say—

Senator Cameron interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Cameron!

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

'We resent a half a per cent increase in the Medicare levy so that we can make proper provision for our fellow citizens who suffer from a disability.' Far from it. The generosity, the decency, the sense of fairness of the Australian people has told the government that they want to make proper provision for the NDIS—and this government, through this modest increase in the Medicare levy, is doing so. (Time expired)

Opposition senators interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Order on my left! Senator Cameron and Senator Bilyk!