Angus Taylor
Hume · Liberal Party · Australia
“It was in 1927 that the federal parliament moved from Melbourne, where it had sat for 26 years. It's a much better location here; I'm in agreement. It did take up a beautiful sheep station, but it has become a great city. It came to a provisional building, as we just heard, in the new capital of Canberra.”
“I'm sure that all in this place look forward to that special sitting of the parliament in Old Parliament House to commemorate the occasion, and I warmly welcome that opportunity.”
“On behalf of the coalition and the federal opposition, it gives me great pleasure to support the motion moved by the government. We warmly welcome the establishment of the Joint Select Committee on the Centenary of Parliament in Canberra.”
“He captured the aspirational spirit of the Australian people when he said: One's own life would hardly be worth living without its dreams of better things, and the life of a nation without such dreams of a better and a larger future … Prime Minister Stanley Bruce delivered an address in which he said: May those who enter this open door go…”
“Given the shortage of accommodation in the new capital, I think it was largely restricted to tents at that point. Consequently, the overcatered event reportedly saw a large quantity of Sargents meat pies left over. Legend has it they were disposed of in a pit where the Treasury building now stands.”
“My question is to the Prime Minister. Under Labor, aged care wait times have blown out to over a year. More than 200,000 Australians are waiting for care. Today, Labor was defeated in the Senate, which passed the coalition's bill to put people back in charge of aged care decision-making.”
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“Through this legislation, he will have the discretion to reduce the government's $250 annual income tax cut where he sees fit. He can reduce it. It doesn't actually have to be $250. Now, we want more than $250. I'm going to come back to that! But he can actually reduce it. I mean, why would that be in there? I tell you what: nothing he says about why that's in there is credible, because you can't believe a word this treasurer or this prime minister says. This legislation is incomplete. It trashes transparency. It trashes accountability. It is a power grab and an overreach. It is an utter disgrace. Let me be clear. Australians need relief from the economic disaster that has been wrought on this country and our economy. We support Labor's $250 annual income tax cut, but we want it to be bigger.”
“And, with less certainty, you get less investment, less increase in real wages, less productivity and less prosperity in this country—the exact opposite of what we need right now. Stuart Broadfoot from K&L Gates has said: … they were not ready with the legislation, and not ready with the details, and they are trying to essentially ram through a system of legislation that hasn't had the required thought. The one thought they've had is they need to make a tax grab. That is the very clear thought but not much beyond that other than a willingness to hurt some of the hardest working Australians. Barrister John de Wijn KC has said: It shouldn't be left to minister discretion to work out how it's going to be applied— well said! The Treasurer is seeking other powers, too. This one's extraordinary.”
“In effect, the Treasurer can decide what's going to be affected and, more importantly, who is going to be affected and who will not be. This is absolutely outrageous. The Treasurer wants these sweeping powers because he hasn't thought through his tax changes or, if there's a stray chance that he has, he doesn't want any accountability for them. They'll avoid any accountability at all. Now, Jenny Wong from CPA Australia has said: I have never seen this many determinations in one bill … which shows that it has been rushed. … … … And given ministerial determinations don't go through the same scrutiny, this leaves the door open for further changes and that means less certainty.”
“Not only did they absolutely refuse to take these toxic taxes to the last election; they don't even want to take them to the parliament. They're going to leave it to the minister. He's going to make decisions for them. The Treasurer will be able to determine whether a home is classified as a new build. We know how this government works. The truth is irrelevant as far as they are concerned. He will be able to exempt properties of his choosing from being negatively geared—up to him! He'll be able to stop investors. Given the leaks we've seen from those opposite, he's not going to want to talk to anyone else about it. That's clear. He'll be able to determine which assets should pay capital gains tax and which should be exempted.”
“As far as the government is concerned, the details are an afterthought, and they're going to be left till after the legislation comes through. Frankly, the government has no idea what it's doing, and that's why we are not interested in carve-outs. We want these toxic taxes axed. What is truly concerning about this legislation is the sheer power that it grants to the Treasury and the Treasurer, as I touched on a moment ago. If passed, these laws will permit an unprecedented level of ministerial discretion on tax decisions. As the Australian 's Matthew Cranston pointed out, the Treasurer will be able to make no less than eight captain's calls on negative gearing and capital gains tax without bringing it through the parliament.”
“And do you know what? Labor knows its budget is an aspiration killer, and that's why it's caving to carve-outs. That's why it's toying with compromises. Since the budget, there's been talk of a carve-outs for tech startups. But what about for other businesses? What about hairdressers, tradies and fitness instructors? Does the government consider such businesses unworthy of a carve-out? With all this talk of compromises, the government has unleashed absolute confusion, and we don't have any information on where the government might go with this. Just as it did with the Voice referendum, the government is avoiding the details, because the details really matter on this one, because they are going to impact on people's lives.”
“Of course, the Prime Minister dismisses these memes as misinformation and disinformation. He and his government dismiss Australians' concerns because they are clueless about the impact of these toxic taxes because they haven't worked in small businesses. They don't understand how it works. They haven't got a clue, and that's because so many in Labor's ranks not only have not worked in small business but don't like it. They don't like it, and there's a simple reason for that: they can't unionise it. Labor's toxic taxes are a war on aspiration, an assault on aspiration, a war on the very essence of being Australian and a war on the soul of our nation. They're an attack on the wealth creation that benefits all of us, and they will crush reward for hard work and the spirit of reward for hard work that underpins our nation's success.”
“Australian small business and family businesses—whacked. Australian startups—whacked. Australian farmers—whacked. Tax, tax, tax—that's what this government believes in. They are going after Australians' money—some of the hardest working Australians, who are putting that money aside for the future, investing in their businesses, their communities and their future. The government's CGT changes will shut down growth-enabling investment, they will obliterate opportunity and they will kneecap so many Australians. It's no wonder that we see Australians expressing their frustration. Some are doing it in satirical ways, and every day there are new AI memes depicting the Prime Minister as a business co-owner, a co-founder who never puts his shoulder to the wheel. An opposition member: Asleep at the desk. Asleep at the desk.”
“Only in this government's world of Orwellian doublespeak can housing scarcity be dressed up, as they've attempted to do, as pro supply—Orwellian doublespeak. Let's also consider the capital gains tax changes, the scrapping of the 50 per cent discount. This is again a toxic tax, pure and simple—a tax on savings, a tax on taking risks, a tax on having a go, a tax on some of the very hardest working Australians and a tax on Australians who are already doing it incredibly tough, who are working more hours for less as a result of an economy that is not working for some of the hardest working Australians. It's also a tax on every asset class: shares, crypto, ETFs, small businesses, farms and more. And who's being whacked by Labor's taxes? Young Australians—whacked. Australian trying to build a nest egg—whacked.”
“Here's what it says: over a four-year period, new housing supply will fall by 8,700 and construction jobs by more than 3800, and rents will increase by $500 a year. The Treasury secretary has also been surprisingly upfront—I would expect that of an honest public servant—about how the government's budget will reduce housing supply. Ms Jenny Wilkinson was speaking last week at an Australian Business Economists forum, and she said the changes were 'more about changing the distribution of housing ownership, rather than addressing sort of an overarching sense, supply'. She was honest about what was in the budget papers, page 158: it's going to reduce supply and increase rents. The government's own budget papers say this.”
“The government's own budget papers show that its changes will reduce housing supply by 35,000—page 158—which snuck through the 400 staffers that those opposite have. In the end, the Australian people will work out the truth that these negative gearing changes will reduce the supply of housing in this country—the very simple truth that, if you tax something more, you get less of it. It's pretty simple. This is a toxic tax on housing, and there will be fewer houses available for young Australians as a result of this tax. Beyond the budget papers, we now have independent modelling that verifies the ramifications of this budget, and I thank Master Builders, the Property Council and the Real Estate Institute for the work they've done, which they released last Friday.”
“This is a prime minister who has no reverence, no respect for the truth and certainly no respect for hardworking Australians. He is an oath breaker, and Australians know it. Labor treats Australians like mugs. At the recent Victorian Labor Party Conference, the Prime Minister had the gall to describe his budget as 'pro-aspirational' and 'pro-supply'. I can understand that those behind me believe this is some kind of joke. But the government thinks it can get away with portraying its toxic tax grab as addressing intergenerational equity. Australians aren't falling for Labor's ruse. They know that beneath Labor's weasel words is a budget that is a massive con job. Let's first consider Labor's changes to negative gearing.”
“He promised Australians that their power bills would go down by $275. Not even close: we've seen bills soar by 40 per percent. He promised Australians they would have cheaper mortgages. No way: a typical mortgagee in this country is paying an extra $30,000 in after-tax income—with increasing taxes, of course, under this government—that they didn't have to find before Labor came to power. And now he's pushing ahead with his toxic taxes and he has broken the mother of all promises that he made, in his own words, 50 times. Labor's budget reminds Australians that this prime minister's word is never his bond. He leads a government that misleads and deceives on a daily basis. It's a government that's tricky and sneaky, a government that says one thing and does another.”
“It's a broken promise. And this prime minister stands condemned. This government stands condemned, too. I say to the Prime Minister: call an election. Let the Australian people decide whether or not they want to see these tax increases. I know they don't. If you don't have the courage to call an election now, we will make the next election a referendum on these tax increases. One way or another, hardworking Australians will have their voices heard, and we will ensure that that is the case. Time and time again, this prime minister and this government have broken faith with Australians. Time and time again they've betrayed Australians. He promised Australians they would be better off under his leadership, but they're not. Under Labor, Australia has experienced the biggest collapse in living standards of any developed country in the world.”
“The Prime Minister and this government have no mandate to raise taxes. Did they take these tax increases—these toxic taxes—to the last election? No, they didn't. Of course he didn't, because the Prime Minister didn't have the guts. He knew millions of Australians would have voted against higher taxes had he done so. He knew that millions of Australians would have given this government the boot if he had done so. So, instead, he misled Australians. Prior to the last election, this prime minister ruled out any changes to negative gearing and a capital gains tax, in his own words, 50 times. He ruled out changes, and now this prime minister is imposing these toxic taxes on Australians against their will. I'll tell you what: it's arrogant—and Australians use colourful terms, adjectives, next to 'arrogant'. It's illiberal.”
“The truth is that they didn't want to fess up to the fact that this prime minister has said in this House that we're going back to the pre-1999 settings. But we're not. He deceived the Australian people in this chamber. That's what he did, and it is a shame on the Prime Minister that he should choose to do that. We are not going back to the pre-1999 settings. They are planning to hit small businesses, farmers and hardworking Australians harder than ever before because they have run out of money. Labor has started a war on aspiration, and its toxic taxes will obliterate opportunity in this country. There is a long list of people who think these taxes are wrong for Australia: the Premier of Western Australia, the Premier of New South Wales, Andrew from Parramatta—”
“We know that, in an economy that is not working for young Australians, and it's not, so many of them are building up a nest egg so they can buy a home. That's what they're doing. But this government has decided to whack them with a new tax. They want to go after the savings of Australians, and it's not just those who are saving; it's also small businesses. I heard the Minister for Social Services interjecting during question time on a question about capital gains tax. Do you know what she said when we asked the question? 'Oh, you should just go and see the accountant.' That's what she said. We want to hear what the situation is from the government that's putting these toxic taxes in place. Tell us how it's actually going to work.”
“I think it was snuck through by the bureaucrats worried that there needed to be a little bit of honesty in it. It was on page 158. It snuck through, and I'm sure the 400 staffers they have missed it. They missed this one. Do you know what it said? It said that when you take negative gearing away on housing, you get fewer houses. It snuck through. This isn't a level up for young Australians wanting to get into a home; it's a lock out on homeownership in this country. That's what it is, and that's what this government stands for. Now we'll go to the next one. We've just done negative gearing. We'll go to capital gains tax. Scrapping the 50 per cent discount is a tax on savings, pure and simple. It's a tax on savings on every asset class—crypto, ETFs, shares, bonds and you name it. It is a tax on Australians trying to build a nest egg.”
“He's a man who occupies the highest office in the land, but he lacks the character to lead this great country. He absolutely lacks the character to lead this great country. He stands condemned, and his condescending government, the condescending government he leads, stands condemned as well. He's bungled budget confirms that his government is the highest taxing government in Australian history—the highest taxing government—because they are addicted to spending. We know only too well that when Labor runs out of money it comes after yours. Let us consider Labor's changes to negative gearing. This is purely and simply a tax on housing, on homes. That's what it is. It's a tax on homes. When you put a tax on something, you get less of it. There was one tiny shard of honesty in this government's budget.”
“They're up 40 per cent since this hapless energy minister was in place. He promised Australians that they would have cheaper mortgages—not even close. A typical mortgage holder is $35,000 worse off since Labor has come to power. He promised that there would be no changes to negative gearing and capital gains tax, in his own words, for the 50th time. Well, surprise, surprise. He's changing them. He's because he changes his mind. He's changing his mind again, and he is whacking new and higher taxes on hard working Australians. No Australian can trust another word that comes out of this bloke's mouth. Now, did he take his tax increases to the last election? Well, of course not. As I said, he hasn't got the courage. He leads a government that is tricky and is sneaky, and Australians are seeing him for the prime minister he truly is.”
“Labor's toxic taxes will destroy aspiration in this country, and if the Prime Minister wants to force these toxic taxes onto Australians, he should have the guts to take it to an election. But he won't. He won't because he can't tell the truth. This is a prime minister who leads a government that misleads and deceives every single day, a government that dupes and distorts, a government that says one thing, does another and has a very, very loose association with the truth every single day. This Prime Minister's word is never his bond. It is never his bond, and Australians absolutely know it now. He promised that Australians would be better off under his leadership. Well, they're not. He promised that their power bills would go down by $275. It's not even close. They haven't.”
“My question is to the Prime Minister. The Labor Premier for Western Australia, Roger Cook; the Labor Premier for New South Wales, Chris Minns; the Labor members for Parramatta and Bennelong and the Labor economic committee are all opposed to Labor's toxic taxes. What will it take for the Prime Minister to axe these toxic taxes?”
“My question is to the Prime Minister. Labor has refused to be honest with Australians about its plan for new toxic taxes, a lie that the government hid from Australians at the last election. Why doesn't the Prime Minister have the courage to take his toxic taxes to the next election?”
“Prime Minister, today's inflation data confirms that, if the coalition's tax back guarantee were in place right now, a typical taxpayer would receive $410 of tax relief this year, growing to well over $1,000 per year in four years' time. Will the Prime Minister index income tax brackets to end their inflation tax bracket creep?”
“My question is to the Prime Minister. Can the Prime Minister advise the House how many of Australia's nearly three million small and family businesses will be carved out of Labor's capital gains tax grab?”
“My question is to the Prime Minister. Three times I have asked the Prime Minister which small businesses will be spared from his broken promises and higher taxes. Three times the Prime Minister has refused to be honest. Prime Minister, what happened to 'my word is my bond'?”
“My question is to the Prime Minister. I ask again: will the Prime Minister just be honest with Australians and tell us which small businesses will be carved out from Labor's broken promises and higher taxes?”
“My question is to the Prime Minister. There are nearly three million hardworking small and family businesses in Australia. Will the Albanese government carve out the hairdressers, builders, gyms, pharmacies, vets, dentists, landscapers or childcare operators from your broken promises and higher taxes?”
“The sight of thousands of Melburnians with their Big Freeze beanies was a testament to Neale's advocacy and awareness-raising of this absolutely insidious disease. 'Walk the walk', the Big Freeze and FightMND are traditions thanks to Neale. He was a best and fairest on the footy field and in life. He was known as 'the Reverend', and 'the Rev' was revered for his passionate public speaking. We are thinking of those dearest to him as well: his wife, Jan; and his children Lauren, Luke, Bec and Ben. May he rest in peace.”
“on indulgence—I thank the Prime Minister for his heartfelt words. On behalf of the federal coalition, I express my condolences to the family and friends of Neale Daniher AO and the wider AFL community on his sad death. Neale was a champion footballer, a mighty coach, a family man and an all-round outstanding Australian. As Victorian of the Year and Australian of the Year, his fundraising work was instrumental in helping Australians fight motor neurone disease. He fought 'the beast', as the Prime Minister rightly described his way of characterising it, to the last—never waving a white flag and carrying on with his customary wit and grace. Neale was a fighter to the end. That MND fight will now carry on in so many who have been inspired by Neale.”
“My question is to the Prime Minister. Over the past week, I've spoken to hundreds of hardworking Australians across every corner of our country that have had one question they want to ask of the Prime Minister: why did the Albanese Labor government lie to Australians about plans to tax them more?”
“This government is now talking about carve-outs for tech startups but not for small businesses, not for plumbers, not for hairdressers, not for other tradies and not for any other small business. That's what this government does. It pits Australians against Australians, young Australians against older Australians. I'll tell you what: Australians don't want carve-outs; they want these taxes axed.”
“The verdict is in. This is the worst budget Australia has seen since Paul Keating's in 1993. The Prime Minister gave a promise that there would be no changes to negative gearing and no changes to capital gains tax. He ruled out changes in his own words 50 times. Now no Australian can trust another word that comes out of his mouth. Labor's mask is off. This is a government that sees every Australian who gets ahead, or wants to get ahead, as someone to tax more—a nation of wealth redistribution, not wealth creation, where opportunity is obliterated, not created. Every Australian will be worse off because of this aspiration-killing budget. There will be higher taxes on housing, on saving, on investment and on small businesses, as well as a death tax by stealth.”
“Difficulty isn't insurmountable. We can restore our standard of living. We can protect our way of life. I'm not under any misapprehension. There's much work the coalition must do to win your confidence. But, with the policies I've announced tonight and the vision I've outlined, I hope you can begin to believe again. Believe in our promise of better government. Believe in the prospect of a fairer, freer and better Australia. That Australia is worth fighting for, now more than ever, and the fight starts tonight. Debate adjourned. House adjourned at 20:05 The DEPUTY SPEAKER ( Ms Sharkie ) took the chair at 09:40.”
“Two nation-building projects will be immediately designated by a coalition government: the Browse Basin offshore gas field in Western Australia and the Taroom oil field in Queensland. The Commonwealth will get out of the way so the states can get projects going. The coalition will also put an end to the green-energy rent-seeking. We will back any technologies that can deliver affordable and reliable energy in this country. That includes coal, gas, hydro, batteries and renewables in the right places, and it will include nuclear power too. We will lift the ban. To Australians watching tonight, I know you're struggling on many fronts. I know you're apprehensive about your and your children's future. I know you're worried about the state of our cherished country. But decline isn't inevitable. Damage isn't irreparable.”
“To incentivise more refining capacity, we'll make the fuel security services payment available to companies who can build new refineries. This includes refining of non-conventional fuels like biofuels and coal-to-liquids. Ultimately, we want decades of fuel reserves and much more energy. We can achieve that by getting Australian resources out of the ground—more Australian gas working hard for Australians, more Australian oil working hard for Australians. To dig and drill, the coalition will remove obstacles. As I said earlier, we will abolish Labor's hidden carbon taxes, like the safeguard mechanism, and we will rewrite Labor's antidevelopment environmental laws to speed up approvals. We're also going to unlock critical gas and oil projects. We will create under law national strategic priority projects.”
“While renewables have a role in our energy mix, especially rooftop solar and home batteries, they aren't a rapid replacement for fossil fuels. Fossil fuels still deliver most of our energy needs. Australia isn't undergoing a rapid, pain-free energy transition, as Labor pretends. Australia's energy security requires energy abundance. That's the coalition's goal. So tonight I announce that a coalition government will work with coal-fired power plant owners to keep them running as long and as hard as possible to get electricity prices down. On fuel, the coalition has said we will double our minimum reserves of petrol, diesel and jet fuel to put our total reserves within reach of 90 days. We will also invest $800 million for new fuel storage to give us one billion litres of additional capacity.”
“In a dangerous world of coercion, crises and conflict, we need to address threats and risks comprehensively and get serious about our self-reliance. Tonight I announce that a coalition government will develop a national security strategy and appoint a dedicated national security adviser. Central to that strategy will be defence. Unlike Labor, with its accounting trickery, the coalition will commit to spending at least three per cent of GDP on defence. That is what is needed to bolster our ranks of war fighters in this country, to harden our bases, to deliver AUKUS, to build offensive and defensive drones and missiles at speed and scale in an age where such weapons are essential to deter a larger adversary. Energy security will also be a priority in this new strategy.”
“But this much I promise, the coalition will deliver one of the biggest cuts to immigration in the history of this country. Our immigration cut will complement our plan to lift immigration standards. We will make the existing Australian values statement an enforceable visa condition. We'll make it an obligation, not an option, for permanent visa holders to learn English. We will enhance screening to stop radicals from entering our borders. We'll curtail frivolous protection claims by restoring temporary protection visas and establishing a list of safe countries deemed free from persecution. And we will process and deport 70,000 overstayers who have no legal right to stay. Those who criticise the law being enforced must explain why their sympathies lie with illegal overstayers instead of with migrants and Australians who abide by the law.”
“Tonight I announce a far-reaching and unprecedented housing policy. It's also an immigration policy that puts Australians first. A coalition will cap immigration numbers based on the number of homes constructed each year. Never again will a government be able to bring in more people than our housing can support. That's our commitment. I also stress this point. Given the magnitude of people coming in under Labor, immigration will need to be significantly below our cap in the first few years of a coalition government. We must allow the housing market to catch up. Only closer to the election can we provide a precise immigration number. It will be rash to do so now because Labor always exceeds its immigration targets, and it will do so again. By the next election, the situation could be even worse than it is today.”
“With this support, we will unlock 400,000 new homes for Australians. As I said, we will cut red tape, which will take up to $70,000 off the cost of a new home. But the biggest problem with access to housing is that, under Labor, immigration numbers are too high. With Labor having opened the migration floodgates, the dream of homeownership has become a nightmare for so many Australians. Since Labor was elected, it has brought in a record 1.4 million people—about the population of Adelaide. That number accounts for 80 per cent of our population growth over the same period, and that's why there's a shortfall of homes for about 400,000 people. Australians are deeply concerned about the scale and pace of immigration on housing, infrastructure and services, and that includes migrants themselves who have become Australians.”
“It will back Australians to work hard, take risks, invest in their future and invest in our country's future. It will force government to respect your money. Any government that wants to tax Australians more should have the courage to front up and take that tax increase to an election. Under Labor, Australians work harder, pay more and fall behind. Under the coalition, Australians will be rewarded, keep more and get ahead. From my first day as opposition leader, I said I wanted to re-establish homeownership as the centrepiece of the Australian dream. My goal is more houses for Australians and a fairer go for young Australians. A coalition government will get stalled housing projects moving again. We will invest $5 billion in supporting infrastructure like roads, water power and sewerage.”
“But Labor's plan is to tax away all of workers' real wage gains. Living standards go nowhere. A typical worker on $70,000 a year will see their entire real wage gains taxed away. The worst thing about this tax is that it keeps going up and keeps taking more each year, forever. Under a coalition government I lead, this will end. Tonight I announce our tax back guarantee. From 2028-29, we will index the bottom two income tax thresholds to inflation. That will fully protect 85 per cent of income earners, with relief of around $2.50 in year 1 for a typical worker, growing to more than $1,000 a year in year 4. From 2031-32, we will index the top two tax thresholds as well. That will fully protect all income earners from inflation. This is generational tax reform. It's fair, it's simple, and it's honest.”
“The Treasurer says inflation will reach five per cent next month. People see Labor's inflation steal from them in higher grocery prices, power bills, mortgage repayments and other cost-of-living expenses. But Labor is stealing from Australians in another way, year after year, without new laws, without an election and without you even noticing until you look at your bank account. When your wages rise just to keep up with inflation, you're no better off. But you pay higher taxes as though you are better off. More of your income goes into a higher tax bracket. This is bracket creep, and it's why you feel poorer. The higher Labor's inflation goes and the longer it lasts, the more the government takes from you. This is a stealth raid on Australians working hard to get ahead. Labor's promising that your real wages will finally go up.”
“We will require regulators to act in a way that encourages competition, nurtures investment, increases productivity, boosts wages and grows the economy. The coalition will also abolish Labor's great big carbon tax, the so-called Safeguard Mechanism. This tax jacks up the price on essential building materials like steel, cement and glass, driving up the cost of a new home. It also undermines investment in key industries and hastens them going offshore. Indeed, we'll abolish Labor's crippling net zero carbon taxes wherever we find them—on mining, manufacturing, electricity, vehicles and imports. Now, just as I want more investment in Australia, I want Australians to keep more of their income. If you're feeling poorer under this government, it's because you are. Labor is stealing from you with inflation.”
“A coalition government will rewrite and simplify the legislative rulebook, including the Corporations Act, the tax act, the competition act, the National Construction Code and the Environment Protection and Biodiversity Conservation Act. Take the construction code as one example. Labor has expanded it to more than 2,000 pages. The code's thousands of rules add tens of thousands of dollars to new housing bills. We want the code to be closer to 200 pages, and we will go further. Regulatory bodies created by government set rules and enforce laws, and that's important. But under Labor, these regulators have become bigger, more powerful and overbearing. They're regulating for regulation's sake. They need to get out of the way. A coalition government will impose new responsibilities on regulators by law.”
“It drives up jobs, real wages and real income, and it strengthens the budget to pay for the safety net and to pay down debt. Investment is a vote of confidence in our country, with compounding benefits. For example, when a builder invests in a ute, he can do more jobs, take on a new apprentice, grow his business and service more of his community. To lift confidence in our country and encourage business investment, tonight I announce an important down payment—the first of many. We will allow any business with a turnover of less than $10 million to immediately deduct assets of up to $50,000 on a permanent basis To boost investment, we also need to free the economy from the government's chains. Laws are too complex and obstruct enterprise.”
“Where resource tax revenues are higher than forecast, we will bank 80c in every dollar into our future generation fund. This fund will help to pay down Labor's trillion dollars of debt. It will help to invest in nation-building infrastructure, and 25 per cent of funding will be for our regions that have been neglected by Labor—regions that are home to the natural resources we all benefit from. In my career I've worked across agriculture, energy, resources and infrastructure sectors. I've helped small and large businesses to grow. I know what makes an economy tick and what Australia needs to grow and to thrive. Government doesn't grow the economy; private enterprise does. Tonight, I begin to outline how the coalition will restore Australian prosperity. It starts with driving investment. Investment lifts the economy's speed limit.”
“For instance, revenues can help to build more houses and stronger communities, as well as the long-term infrastructure in cities and regions that we need, like the Inland Rail that's been axed by Labor. Revenues can help to pay down debt too. Since Labor came to office, they've received almost half a trillion dollars in commodity revenue upgrades, mostly driven by higher resource prices. This year alone, iron ore prices have averaged more than US$100 a tonne, but this budget assumes they return to US$60 a tonne. Instead of paying down debt and building our nation, Labor has squandered resource profits with its self-indulgent spending. In contrast, the coalition will not neglect our responsibility to our children and grandchildren.”
“Yet it has cut the private health insurance rebate for Australians over 65 and slashed $600 million for our veterans. Labor puts Australians second, whereas the coalition will always put Australians first. Tonight, I announce that a coalition government will reserve the NDIS and 17 different welfare programs, including JobSeeker, Youth Allowance and the family tax benefit, for Australian citizens only, and save taxpayers billions. My message is this: if you commit to Australia, Australia will commit to you. After all, the taxes paid by hardworking Australians should support Australians. Australians know that revenue from booming iron ore, gas and coal prices go a long way.”