Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

Of course, today’s announcement on the MRRT is about ensuring that we are able to set aside money from the boom to invest in the future. We need to do this to make sure that our success as a nation outlasts the boom. Let us remember what this taxation reform will deliver: a boost to national savings, a cut to company taxation and of course investment in infrastructure, particularly in the mineral rich states of Western Australia and Queensland.

We have a Liberal Party that are opposed to a reduction in company taxation, a Liberal Party opposed to reductions in the company tax rate—who would have thought? On the one hand, we see the Liberal Party wanting a government grants program when it comes to climate change, and they also want to oppose a reduction in company tax despite the fact that they say they are a party of low tax. (Time expired)