House debates

Wednesday, 28 February 2007

Tax Laws Amendment (2007 Measures No. 1) Bill 2007

Second Reading

4:33 pm

Photo of Craig EmersonCraig Emerson (Rankin, Australian Labor Party, Shadow Minister for Service Economy, Small Business and Independent Contractors) Share this | Hansard source

Treasurer Costello has told the National Press Club and this parliament that Labor never delivered income tax cuts in his memory. Labor gave seven rounds of income tax cuts in 13 years, returning all of the bracket creep and more. So you had better go back to the old brief, Minister, because you absolutely do not understand that Labor did in fact return all the bracket creep and more in seven rounds of tax cuts in 13 years.

The superannuation savings assets of working Australians have now passed $1,000 billion—$1 trillion. This is a magnificent achievement, created, fashioned and inspired by the previous Labor government.

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