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

What I can confirm is that the government proposed and the parliament passed the major bank levy, which was, of course, introduced by the government after the 2017-18 budget. What I can also confirm is that, if the Senate does not take steps to ensure that all Australian businesses are in the best possible position to be successful and profitable into the future, it will harm our economy. If we continue to put our businesses at a competitive disadvantage—and, may I say, in particular the bigger business across Australia—it will cost investment and jobs. That's what will happen. I know that the Labor Party likes to bash the banks, but the truth is that the banks are a central part of our economy, and strong and profitable banks—