Michelle Landry (Capricornia, National Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline to the House why it is important to have lower and more competitive taxes as part of a plan for a stronger economy? Is the Treasurer aware of the impact of different approaches?

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

I thank the member for Capricornia for her question. Once again, this year's budget was a plan for a stronger economy, and lower and more competitive taxes for individuals and for businesses are a key part of that plan for a stronger economy. Substantially, that plan has been legislated. Personal income tax relief of $144 billion has been legislated by the parliament. Our relief for small and medium-sized businesses up to $50 million has been legislated by the parliament. Our plan for a stronger economy is being implemented. We're getting on with the job, and we obviously want to see the balance of that plan for a stronger economy by ensuring all businesses have access to competitive taxes because of the jobs that depend on them.

We know that Labor is going to roll back $70 billion worth of tax relief for personal income taxpayers in Australia. They're going to continue to oppose the extension of more competitive tax rates for all businesses. But one thing the Leader of the Opposition, the leader of the Labor Party, announced today in his captain's call was that he is going to remove the tax relief for businesses between $10 million and $50 million. Unilaterally he went out there after the end of the speech. The member for McMahon was nowhere to be seen. Normally, when they announce tax policy, they're there side by side, but not today. He went out there and he just snuck it out there. For businesses with $10 million to $50 million in turnover they are rolling it back. That's 20,000 businesses paying higher taxes. There are 1½ million Australians who work for those 20,000 companies. That's an average of 75 people working at each of those businesses, and the leader of the Labor Party thinks there's some multinational juggernaut.

Well, GP Graders at Mount Waverley have a turnover between $10 million and $50 million. They've got 90 staff. ModularWalls in my own electorate, in Kurnell, have 50 employees. And, of course, in the member for Capricornia's electorate, as I've reminded the House before, Coxon's Radiators have 35 employees. That's not a multinational. That's not the top end of town. Those are hardworking Australian family businesses in regional Australia, and the leader of the Labor Party wants to kick them in the guts by jacking up their taxes. They're not the big end of town; they're family businesses.

We used to have leaders of the Labor Party who talked about the ladder of opportunity. Do you remember that? Well, this Labor leader is all about the snake of envy. That's what he's about. Australians will slide down the totem pole under this Leader of the Opposition's policies—

Mr Gosling interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Solomon is warned.

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

and their blood supply will be constricted by the boa constrictor over there, suffocating the economy and cutting off the blood supply. That is what the Labor Party are all about: higher taxes, cutting off the blood supply to our economy like the boa constrictor over there. (Time expired)

Mr Perrett interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Moreton is warned.