Mr ABBOTT (Warringah—Prime Minister) (14:10): Members opposite ask the same question and I give the same answer. The answer is that we are cracking down on tax loopholes. There was a tax loophole which members opposite, in government, thought was so serious that they announced legislation to close it. Mr Conroy interjecting— The SPEAKER: The member for Charlton will desist! Mr ABBOTT: They did not pursue that legislation in government because they were monumentally incompetent. We are pursuing that legislation and members opposite are now opposing us. There is $1.1 billion of tax revenue that we could get by closing this R&D tax loophole which is being exploited by large foreign multinationals, and what are members opposite doing—are they supporting us? No, they are not; they are opposing us. It just goes to show that, when it comes to managing the economy, you just cannot trust the Labor Party.