Sorry, Fraser! Just last week, Ireland phased out that country's most notorious tax loophole—the notorious 'Double Irish Dutch Sandwich' tax arrangements. The fact is that other nations are forging ahead to tighten their tax systems and it is time that Australia retreated from its approach of putting its head in the sand and made these companies pay their fair share.

Every dollar that a multinational tax cheat takes is paid for by Australians, who lose it out of their pay packets. Pensioners, families, students and those on low and modest incomes are all losing through multinational tax evasion. (Time expired)