Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The opposition either have the memory of a goldfish, or they think that everybody else does. Go back to 2011 and some remarks from the House of Representatives:

Cutting the company income tax rate increases domestic productivity and domestic investment. More capital means higher productivity and economic growth and leads to more jobs and higher wages.

Who was the economic genius that said that! Who was it? It was the member for Maribyrnong, the Leader of the Opposition. It really wasn't that long ago. And everything that's said here gets written down, you see; that's what they've overlooked; they thought it just vanished in the breeze. No. He said:

More capital means higher productivity and economic growth and leads to more jobs and higher wages.

It may be that the member for Sydney does not find her leader entirely convincing; it could be that. But he was, to be fair, only quoting economic orthodoxy and common sense. And, of course, in the previous year, the member for Lilley's Budget Paper No. 1 said:

Cutting the company tax rate will make Australia a more competitive destination for investment.

What an insight! He goes on:

Greater investment in capital will support higher productivity and real wage increases for Australian workers.

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