Jane Hume (Victoria, Liberal Party) Share this | Hansard source

The Leader of the Opposition in the Senate also said, on Insiders in 2012—wait for it—'Lowering of the company tax rate is good economic policy.' I don't understand what has changed for these new apostles of socialism. At what point did they divest their party of the legacy of Hawke and Keating? At what point did they deny their own beliefs, beliefs that they have stated on the public record time and time again? How did they move so far to the left that they could make Lenin blush? The opposition leader, clearly, blindly mimics Jeremy Corbyn's and Bernie Sanders's rhetoric of class warfare. I don't want to insult Jeremy Corbyn and Bernie Sanders, because for all their radical socialist tendencies at least they actually believe in what they say.

The basest political opportunism and expedience is the only explanation for this mindless opposition to good, sound, logical economic policy. Let me quote somebody else—the opposition leader, Mr Shorten, again. In an interview on Sky with Kieran Gilbert only a few years ago—I love this one—he said:

Any student of Australian business and economic history since the mid-eighties knows that part of Australia's success was derived through the reduction in the company tax rate. We need to be able to make life easier for Australian business …

Again, Mr Shorten said this to the ACOSS national conference:

Friends, corporate tax reform helps Australia's private sector grow and it creates jobs right up and down the income ladder.

Again to that ACOSS conference, Mr Shorten said:

… lowering the corporate rate for smaller businesses only … creates an artificial incentive for Australian businesses to downsize.

In worse case scenarios some businesses might actually lay people off to get smaller—and the size based different tax treatment would create a glass ceiling on business workforce growth.

Instead we want a level playing field regardless of the size of the company.

This is from Mr Shorten himself:

Reducing the corporate tax rate … sees more capital flowing into our domestic economy, which will then flow on to workers in the form of higher wages—thereby improving standards of living.

It's quite extraordinary how the rhetoric has changed in such an extraordinarily short period of time. What has happened? What has created this turnaround? I can't identify any single economic factor that would have contributed to a change in thinking. However, I can identify political factors. I can identify political expedience. And I think our crossbench colleagues can, too. It has become all too clear, all too apparent, that this opposition is the most anti-business, anti-growth, anti-jobs opposition that we have seen since Whitlam. The parliament knows it, the economists know it—the real economists, not those in Economics 101 we hear bleating from the other side. The media commentators know it. Those in the business community certainly know it. And the Australian people know it. We expect economic nonsense from the Greens, who dwell on the fringe, but this is a party auditioning to govern. By not supporting the enterprise tax plan, the opposition have abandoned their traditions and their principles. They have abandoned the Australian workers, who want more jobs and better-paid jobs, and, by denying our economy every opportunity to grow and flourish, they have also abandoned their credibility.

I implore my crossbench colleagues to see this opposition for what it is: a hollow shell of rhetoric, without shame, devoid of any ideas other than higher taxes and the redistribution of other people's money. But we know that you cannot tax a nation into prosperity. As Winston Churchill said, it's a little bit like a man standing in a bucket trying to lift himself up by the handle. It just does not work. I implore my crossbench colleagues: look past the bloody mindless noise of the opposition and see this policy for the opportunity that it presents to our country. The evidence is compelling, and I know your hearts are in the right place. Your constituents have charged you with the responsibility of progressing our nation. Pass this bill and help progress a policy agenda that will keep Australia competitive, grow the economy, and allow businesses to invest and employ and create more and better-paying jobs.