Senate debates

Tuesday, 27 March 2018

Ministerial Statements

Taxation

5:45 pm

Photo of Don FarrellDon Farrell (SA, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Hansard source

Senator Cameron says, 'No jobs', but, more importantly, there are no wage rises. Senator Cormann has referred to the number of jobs that have been created in this country. Yes, there have been jobs created in this country. There have been jobs created in this country because the world economy is on the rise. But what hasn't happened in this country over that period of time is workers' wages going up. If this government gives big business a $65 billion tax cut, we already know from the BCA that they're not going to pass that on to ordinary working Australians in the form of wage rises. Sure, some of them will get an increase—the CEOs will get an increase, I'm sure, and the executives of those companies will get an increase—but it won't trickle down to ordinary, hardworking Australians. It won't trickle down to those people who really need a wage rise in the current environment. We also know that a hell of a lot of the money from this tax cut will go to companies overseas and shareholders overseas, who, let's be frank about it, don't need any more money.

As we reflect on sacrifice and social justice principles this coming Easter, I'd say to those people who are going to determine whether this government gets this legislation: think very carefully about whether the course of action that the government is proposing is the best course of action for this country. I don't know what's going to happen in the next election—we're very close to an election, we're probably 12 months out at the most from the next election—and the Labor Party's position is very clear. Bill Shorten has said, 'We will reverse these high-income tax breaks. We will reverse them.' So whatever you decide to do with this government, this is going to be reversed by virtue of an incoming Bill Shorten Labor government. I also say to those people: we have inequality in this country and we don't improve inequality by voting for a $65 billion tax cut. Think long and hard about your decision and come back after Easter, let the government present its legislation, and reject this $65 billion tax cut.

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