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

No wonder the Labor Party made such a mess of the budget. They do not realise that budget forward estimates actually go over a four-year period. Over the four years of the forward estimates, the reduction in the company tax rate, as outlined on page 41 of budget paper 2, has a cost of about $2.7 billion. It is, of course, fully paid for by changes in other parts of the tax system. What we have been able to achieve in this budget is to pay for all of our required increases in spending with spending reductions in other parts of the budget, and we have been able to pay for the cost of—