Cormann, Sen Mathias

Senator CORMANN (Western Australia—Minister for Finance) (14:13): Taxes under the coalition are lower and will be lower than they would have been under Labor. We have substantially lowered the tax as a share of GDP trajectory moving forward. It stands to reason—we scrapped the carbon tax, we scrapped the mining tax and last night we delivered a 1.5 per cent company tax cut for small business and an effective tax cut for unincorporated small businesses. We of course want to do more, we will do more, and we will do so when we can afford it and when it is responsible to do so.