John Williams (NSW, National Party) Share this | Hansard source

In the absence of Senator Steele-John, who may be on his way, I thought I would jump the gun, if I can put it that way, and speak on the Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017. What does this bill do? Basically, it plans to reduce business taxes by growing tax cuts. We've already got the business tax cuts for small business—$10 million to $50 million turnover. The bill will grow those tax cuts up more and more as time goes on so that, come 2030, we'll have a tax rate of 25 per cent. It's a hard message to sell. Labor are very good at saying, 'The government's going to give tax cuts to the big banks,' et cetera. We've already billed $6.3 billion of tax over four years to the banks.