Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

I'm glad that the shadow Treasurer is doing some research. He may be interested in this research by the Centre for Independent Studies, which surveyed 640 businesses in 2016. It found that—this was in relation to tax cuts for business—53 per cent of businesses said more investment is their first, second and third most likely response to a company tax cut; 43 per cent of businesses said they were likely to increase wages; and 45 per cent of businesses said they were likely to hire new staff as their first, second, or third highest priority.

Reducing the tax burden on businesses means they are in a better position to pay workers more. The only people who are standing between a wage increase and workers is the Labor Party. The Labor Party think that if employers have to pay the government more they'll be in a better position to pay workers more. It doesn't work like that. If we allow businesses more room to invest and grow their businesses they will be able to pay their workers more, and the Labor Party used to believe that. They used to believe that. The shadow Treasurer, as the Prime Minister reminded us, used to write books about it. This is a shadow Treasurer who has walked away from every economic principle he has ever believed in. In the same way, just two weeks ago, he walked away from a policy that was well calibrated and properly designed. This shadow Treasurer is not up to shadow Treasurer 1.0. or 2.0; he's up to about 17.0. The number of changes in the positions that he has had has rendered him an absolute economic incompetent incapable of doing his job.

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