Mr MORRISON (Cook—Treasurer) (14:31): I thank the Prime Minister. I note the plan of those opposite and I note the fact that they believe that they will raise, I think, some $1.6 billion or thereabouts in revenue from that particular initiative relating to the thin capitalisation rates. But what those opposite do not understand—or maybe they do and they have just decided to ignore it—is that the type of model that they have put forward is out of step with the OECD rules that were brought down just within the last week, and I will tell you why: because what this does not do is focus on the bespoke nature of the investments and the legitimate nature of the company operations here in Australia. What those opposite want to do when it comes to multinational taxation arrangements is take a blunt instrument to a very sensitive area, and what they particularly do not understand is that if you use the ratios that they want to apply to these issues then they will be putting at risk serious infrastructure investment in this country, because you will be applying a higher interest cost than you otherwise would. So those opposite want to put at risk the pension fund investments of other countries, who want to invest in an infrastructure in this country, because they want to use a blunt instrument to just grab revenue. Ms Plibersek interjecting— The SPEAKER: The member for Sydney will cease interjecting. Mr MORRISON: But what they do not understand is what the impact of that might be on what the operations of these companies are. The advice that the government has is that the proposals put forward by those opposite will cost investment and they will cost jobs. The approach that the government has taken on this issue is entirely consistent with the OECD approach, and in fact in many ways—and I pay tribute to the member for North Sydney—it is ahead of the curve when it comes to dealing with multinational taxation arrangements, and it will raise real revenue. The measures that were introduced to this parliament by the member for North Sydney— Ms Butler interjecting— The SPEAKER: The member for Griffith has already been warned. That is her final warning. Mr MORRISON: have already seen the Australian Taxation Office increase the number of firms that it is working with from 30 to 80. So what you have on this side of the House when it comes to multinational taxation is actually a plan that will work and a plan that will launch. Dr Leigh interjecting— The SPEAKER: The member for Fraser is warned. Mr MORRISON: What we have from those opposite from their time in government was an absolutely relentless ability to fail to launch on pretty much every issue. They would have ideas. We remember the pink batts, we remember the school halls, we remember the border protection failures and we remember that they always would just fail to launch. In fact, with Labor governments, you are much better off if they just do nothing, because it is when they actually do something that the damage is really done, because they cannot respect the principle of 'do no harm'. The measures they are putting forward in this area, which they refuse to provide the assumptions behind despite our request to do that, run the very real risk of putting in jeopardy investment in serious infrastructure projects in this country, because they are trying to use a blunt instrument with the global ratio rule, which does not provide the level of customisation that you need to look at in individual circumstances. (Time expired)