Christopher Back (WA, Liberal Party) Share this | Hansard source

'There will be no carbon tax under any government I lead.' I remind Senator Gallacher, through you Mr Deputy President, that to start quoting Liberal prime ministers of the past will come home to bite him, and come home it did. I also congratulate Senate Gallacher on very accurately and astutely quoting the Treasurer of this country's vision. What is a vision? A vision is where you see the country being in the long term. Then, from that vision, you work backwards. You work through strategies, you work through tactics, you work through consultation, you work through the whole process and you deliver your vision over time. I have to say that Senator Brandis and, indeed, Senator Cormann exercised a high degree of grace and courtesy in their responses to the question by Senators Urquhart and Gallacher, because the answers could have been given very shortly and, needless to say, they were that the government is not changing the 50 per cent CGT discount for individuals. They could have just said that and then sat down.

It is amazing. I heard in this place from Labor senators today reference to changes to negative gearing. And what do you think came across my mind? It was the live export trade, where that crowd, in government, with reference to nobody and against the advice of a Liberal senator who actually knew something about the trade, came in overnight and cut the guts out of the live export trade—and they now plan to do it, if they have their way, which they will not, with negative gearing. What would we see if Labor policies were introduced for negative gearing? We would see one-third, 33 per cent, of the housing market immediately dissipate. It would not be the eight or 10 per cent that happened to the cattle industry in the live export trade; it would be more than one-third. We hear about the white-shoe brigade from Senator Cameron. Was he talking about Senator O'Neill, an investor in negative gearing? Was he talking about me? I am not a member of the white-shoe brigade, but I certainly am a participant in negative gearing, let me assure you. I challenge the Labor Party to go out there—