Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

I thank Senator Hume for the opportunity to talk about the budget, to talk about the changes to tax and to say to her that I realise her legacy for the Liberal Party was more debt, higher deficit and higher taxes but that is not the approach we are taking. What we are doing is changing the tax system to give young Australians a chance. I've heard the discussion on the other side about aspiration and I ask them: What is more aspirational than the Australian dream of owning your own home? What is more aspirational than that? And why are you standing in the way of that?

The Treasurer has outlined in great detail, and I'd invite Senator Hume to read the budget papers, because they tell the story of the generational impact the tax system that we have has on the capacity of young people to get a fair chance to have the sort of opportunities that we had. That is what these papers show, and we believe on this side that it is part of our obligation, as those who form the government in the country, to make sure that the next generation of Australians has the same opportunities for homeownership and to get ahead that many of the people in this chamber had. That is the fundamental promise of this budget, and fundamentally it is the promise that you cannot countenance, because you accept the status quo, which continues to ensure that younger Australians do not have the same advantages. You accept that. We on this side do not.