Michael McCormack (Riverina, National Party, Minister for Small Business) Share this | Hansard source

It is like a bunch of galahs on a telegraph line.

Opposition members interjecting—

Magpies, galahs—call it what you like. We are a government that gets things done. We will continue to get things done. We are a government which is very much up to the job. That is the contrast between this government and those opposite—indeed, it is. They come into this parliament, they move motions to say how deeply and heartfelt they feel for those who have been taken advantage of. But when this government puts some action on the table, something that will actually protect consumers, they crab walk away. On budget day the government announced it will introduce a major bank levy on our five major financial institutions with liabilities of at least $100 billion. As members of the community who benefit so substantially from the public, it is only fair that the banks do their bit to help pay for the hospitals, schools and pensions, giving back to the community where they have benefited so mightily. The levy recognises that the banks pose an element of risk to our economy, and it asks the big banks to help compensate the community for this risk. The levy will also raise revenue to help bring the budget back into balance and maintain our AAA rating.

You will recall that we once had a budget surplus. That was in the years where Howard and Costello were organising the financial levers. Then, of course, we had those sorrowful years of Rudd-Gillard-Rudd, with the member for Lilley in control: years of economic mismanagement.

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