Mr HOGAN (Page) (15:55): The sanctimony from the other side is palpable. The member for McMahon, a man who has written books about certain things, will get up and talk about the debt and the rising debt, and have a go at us about our debt management when he himself said that if they won government at the last election debt would go higher. I think he thought it would work out to be about $16 billion to $17 billion higher. So the sanctimony of it is ridiculous. The other thing that he has also written books about is the importance of a competitive tax rate. If you believe the rantings of that side of politics, why don't we put the company tax rate up to 90 per cent? Why don't we put tax rates up to get more money? Labor of the past—as in the Hawke-Keating type of governments—and the Howard-Costello Liberal-National governments understood that for every public dollar that we want to spend on health, education, welfare, defence or any other thing that we should do as a government it has to come from a healthy private sector—one that is growing, one that is competitive and one that we can, therefore, know is healthy. Go and speak to your luminary past leaders like Hawke and Keating. They knew that to have a healthy private sector you have to have a competitive tax rate—more so now more than ever because of how global and how inter-traded a lot of companies are, and how even small companies have competitive pressures from overseas. I could go through and quote for you how many countries have a lower tax rate than ours, and that is why we need to do that to remain competitive. There have been many times that I have quoted it before—and I will not do it again—as well have others in this chamber. In the past, when we have cut company tax rates, within two years we have been collecting more tax at the lower rate than the higher rate, because the private sector is getting healthier. So we have a great policy coming in on 1 July. We know that that side does not like small business. We know that they do not understand small business. That is why the 3.2 million small businesses in this country that employ— Opposition members interjecting— Mr HOGAN: Real small businesses—that is right. Two million dollars—that is not profit, mate. It is turnover. So you can be a small business and have a $2 million turnover, but the profit is not that great. Opposition members interjecting— Mr HOGAN: But I do not expect you to understand. I would not expect you to understand because you know nothing about small business. The other thing that we are doing, too, is on 1 July we are extending the $20,000 asset tax write-off. Every small business that I talk to in my electorate loves that. It is good for business, it is good for regional communities like mine. It has spurred economic activity. It is good policy. The other thing that we are doing on 1 July is diverted profits tax. The philosophy behind that is: if you earn the money here, you pay tax here. For some reason, they do not support that, either. They did not vote for that policy in this chamber, as well. But that is another thing that we are going to bring in on 1 July. There is the bank levy tax. They want to bring in a royal commission. We just want them to pay their fair share and help repair the budget. This is a good policy because it is confined to the four majors and Macquarie bank. There is an implicit government guarantee for the big banks that credit agencies like Standard & Poor's note. They actually quantify it and say that the implicit government guarantee is worth about 20 basis points to banks. We are taking the six-basis point levy on them to help us do budget repair. As the previous member said, we do have a budget issue and we do want to repair the budget. We know it all took off and was out of control under the six years of the Rudd-Gillard-Rudd government, but we do want to repair the budget and we will repair the budget. That is an important part of that. I have been thinking: why doesn't Labor like small business? Obviously, they have also done deals. Big businesses and big unions have done deals together. Some of them have actually been done by the opposition leader himself. What it means is that a family chicken shop on a Sunday has to pay $8 more than KFC, a family-owned takeaway must pay $8 more than McDonald's on a Sunday, a family bottle shop has to pay $7 more per hour on a Sunday than Dan Murphy's, and family greengrocer has to pay $5 more per hour on a Sunday than Woolworths. (Time expired)