Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

The member for Melbourne Ports interjects again. Let me remind him: under the Labor Party, you were taxed at 47c in the dollar for each dollar over $50,000. Under the coalition, once you go over $50,000 you will not be taxed at a marginal tax rate higher than 30 per cent. That is real tax reform, and it is real tax reduction.

Yesterday, the Leader of the Opposition was asked to name the tax rates and the tax thresholds. He was unable to name a single tax rate. He was unable to name the 15 per cent rate. Was he able to name the 30 per cent rate?

See this speech in context