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

I will invite the Treasurer to add to this answer, but I think it's worth noting that the question has been asked by the author of that famous economic tome Hearts & Mindsit's available wherever remaindering occurs—that great text which advocated a 25 per cent corporate tax rate when it's affordable. I'll tell you when it's unaffordable: it's unaffordable when you're uncompetitive. It's unaffordable to have a company tax rate in Australia that is at the top of the OECD. The honourable member wrote a book and talked about the importance of having a competitive tax rate. Now, having done that, he's been forced to eat his words, and he's flinging himself in the way of a competitive tax rate. I'll ask the Treasurer to add to my answer.

See this speech in context