Wednesday, 3 February 2016
Questions without Notice
I thank the member for Petrie for his question. I am sure he would agree that the way I would like to respond to his question draws on a fairly unfamiliar source to this side of the House—Paul Keating. I agree with Paul Keating, who said today that higher taxes for higher spending is not a plan for jobs for growth. What he said today is that the big falls in commodity prices means Australia's income has been cut. We cannot pretend we can go on spending as though nothing has happened. Those opposite may think that, but this is what Paul Keating said:
The world has trimmed us down. We now have to trim ourselves down, trim our spending and not accommodate more of it by ever more taxation.
He says the aim of policy should be to make the private sector larger. He is right—
Mr Champion interjecting—