Derryn Hinch (Victoria, Derryn Hinch's Justice Party) Share this | Hansard source

I thank the senator for his career advice—thank you, Senator Cameron. I will not be joining the Liberal Party. I have supported it on many occasions. I think I have supported the government in 62 per cent of the votes, and often that has happened with Labor Party amendments, which you have crafted and I've agreed with you to get it through.

I have voted with the government on the exclusion of the banks. It's not a position I have wibble-wobbled over or gone up and down and over and back over. For six months, Senator Cameron, I have held the position, having gone to $50 million turnover last year. I suggested back in March on Sky News that the government should go to $500 million and I would support them. The only change I've made is that I've said: 'If you want to give the tax cut to smaller companies a bit earlier, I'll go along with you on that. Apart from that, I will not.' The amendments put forward by Senator Cormann would exclude the banks and I believe in that. I was happy to vote with them. I will vote against the total bill. I will vote against total tax cuts and the government knows that. I've told them that. I've made no deals with them. I've made no side issues, no side bills, at all. I've told them how far I would go and that is to $500 million.

I know my amendment will fail. I've done the best that I can. That is in the interests of the Australian people, because companies do need company tax cuts. In Britain, in the UK, in Canada, in Europe and in Singapore they have 17 or 19 per cent company tax. It's 20 per cent here and 21 per cent there. But I do agree with you, Senator Cameron, that much of the cuts in the United States under the Trump presidency, as I said yesterday, have gone to share buybacks, increased dividends and very high salaries for the executives. I agree with you on that. I will be voting against the bill. I recommend my amendment but I suspect—or know—it's going to lose.