Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

The budget is presented with both the four-year forward estimates and the medium-term projections, consistent with the practice of many years. The honourable member understands that. The fact is that the honourable member, the Leader of the Opposition, is attempting now to eat every single word he has ever uttered when he was in government about company tax. This is a man who said:

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

Of course, his colleague, the member for McMahon, said:

It's a Labor thing to have the ambition of reducing company tax because it promotes investment, creates jobs and drives growth.

And, he said in 2013, 'Our company tax rate is now above the OECD average at 30 per cent. It is how the rate compares to that of our competitors that counts.' That was true in 2013, it is even more true in 2017 and it will be even more true in the years to come. The truth is, we need to allow our businesses to compete and they need a competitive tax rate— (Time expired)

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