Senator CORMANN (Western Australia—Leader of the Government in the Senate, Minister for Finance, Special Minister of State and Vice-President of the Executive Council) (14:32): As I said in response to a previous question, it is clear that the Australian Labor Party in 2018 no longer understands the principles of basic free-market economics. Senator Jacinta Collins interjecting— Senator CORMANN: Let me tell you what doesn't work. Socialism doesn't work. There are examples around the world that show— The PRESIDENT: Order! Senator Cormann, please resume your seat. Senator Jacinta Collins interjecting— The PRESIDENT: Senator Collins, Senator Wong is on her feet. I will call Senator Wong when there is silence. Senator Wong, on a point of order. Senator Wong: The point of order is direct relevance. This is a question about a survey which indicates that that fewer than one in five chief executives will use a tax cut to increase wages or employ more staff. I fail to see how an answer about socialism can possibly be directly relevant to that. The PRESIDENT: The minister has only been speaking for 20 seconds. There was a second part of the question that started with, 'How can the minister continue', which I didn't get the rest of. Given that the minister has been speaking for 20 seconds I do consider him at this point to be in order. Senator CORMANN: The interjection from Senator Collins, which I take, was that the market doesn't work. That is the problem with the modern Labor Party. The other thing she said— The PRESIDENT: Senator Collins, on a point of order. Senator Jacinta Collins: The minister is misrepresenting my interjection. What I said was: 'Trickle-down does not work.' Senator Fifield interjecting— Senator Birmingham interjecting— The PRESIDENT: Senator Collins, and Senators Fifield and Birmingham, the way to avoid misrepresentations of interjections is not to make interjections in the first place. I encourage all senators to be orderly and to not take interjections either. Senator CORMANN: The other thing wrong in the good senator's question is when she references an $80 billion tax giveaway to big business or the big end of town—or whatever she said. Unless she thinks that a business generating more than $10 million in revenue—which is going to be hit for a six by Mr Shorten, as a result of his captain's call, imposing higher taxes on small business—is part of the big end of town then her question is simply another attempt to mislead the Australian people. Let me just explain some basics of free market economics. If you get more investment in the generation of products and services that consumers want, businesses generating those products and services will hire more people in order to generate those products and services that people want. And if they are successful in selling those products and services that people want to those people, not only does that deliver a higher quality of life to consumers; it also means that, as businesses around Australia hire more people, there's more competition for workers across the Australian economy. Do you know what happens when there's more competition? Business has to pay more to secure their services, not because they want to out of the goodness of their hearts but because they have to. That is the fundamental law of supply and demand: if there is stronger demand for workers then people have to— Senator Jacinta Collins: Adam Smith—here we go! Senator CORMANN: You see, now Senator Collins is criticising Adam Smith! (Time expired) The PRESIDENT: Senator Collins, a supplementary question.