Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

I will repeat what the Prime Minister said. The medium-term cost of the unlegislated component of the enterprise tax plan, which is currently before the Senate, is $35.6 billion over the period from 2016-17 to 2027-28. That is the measure that is currently before the Senate. The last year of that 2027-28 program is $9.8 billion, which obviously includes the cost of that measure as it applies economy-wide. So I will let the shadow Treasurer add up, if he can. But the point is this: the costings I have just set out are for the unlegislated tax cuts. Those opposite would know that, once a measure is legislated, it's legislated. It begs this question, as to why they want to know—why would you want to know the cost of tax legislation that has already been legislated for small and medium sized businesses unless you wanted to reverse it, unless you wanted to rip away the tax cuts given to small and medium sized businesses in this country? I'll tell you: $25 billion is the cost to revenue of those legislated tax cuts for small and medium sized businesses over 10 years. And you will be out $25 billion unless you reverse those tax cuts in your plan, because you went to the last election, beating your chest over there, the great man from McMahon—he was going to reverse the whole enterprise tax plan. You be honest with the small businesses—through you, Mr Speaker—and you tell them: are you going to rip away their tax cuts that have been legislated by this parliament, or are you going to strip them away?

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