Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I thank Senator Whish-Wilson for that question. As he rightly points out, this government is committed to ensuring that multinational businesses who operate in Australia, and indeed who operate in other parts of the world, pay appropriate levels of tax in relation to the profits that are generated either here or in other parts of the world. As Senator Whish-Wilson also indicated, it is appropriate for these sorts of issues to be resolved at an international level, because if we were to take unilateral action then of course we would put at risk our capacity to grow our economy more strongly. Unilateral action would potentially impact our international competitiveness, which is why the Treasurer, Mr Hockey, is pursuing the issues that Senator Whish-Wilson has raised very proactively and energetically through the G20 fora. As you would be aware, Australia right now has the privilege of chairing the G20. We had a meeting of finance ministers and central bank governors in Sydney earlier this year, and that will be followed up with a leaders' forum in the great state of Queensland later this year. I am confident that we will be making—