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

Unlike the Labor Party, we want to back, to support, to encourage and to reward hardworking Australians because we are committed to ensuring that Australians today and Australians into the future have the best possible opportunity to get ahead. That is why we want to ensure that we can provide income tax relief to Australian families—prioritising low- and middle-income earners (1) because we want to support them to deal with cost-of-living pressures, (2) because we want to address bracket creep, because bracket creep is a drag on economic growth, and (3) because we want to simplify the tax system. While we will prioritise low- and middle-income earners, we do believe it is important that the tax policy settings for personal income tax overall are lowered, and that is why, over a seven-year plan which is fully costed, which is affordable and which is reflected in our budget bottom line, we are putting forward a seven-year plan which provides— (Time expired)