Mr MORRISON (Cook—Treasurer) (14:16): I thank the member for Chisholm for her question. She is right that under the Labor Party Australians will pay more: they will pay more in higher taxes; they will pay more in higher private health insurance premiums; they will pay more in higher electricity bills; they will pay more in higher rental costs for their housing; and they will pay more as retirees, with Labor's cruel retiree tax. And Tony is no different to Alan in the electorate of Canning. He will be paying $10,000 more in the refunds, the tax refunds, he will lose as a result of what the Labor Party proposes to do. It's like others in all of the electorates on both sides of the House: people whose only crime, according to the Labor Party, is that they have gone out there and bought shares and those shares are providing them with income to pay the electricity bill, to pay their medical bill—thousands of dollars that they rely on because they went and bought shares. The Labor Party says that this is a loophole. Mr Dreyfus: It is a loophole. Mr MORRISON: It is a loophole—it's said! It is a loophole! That is what those opposite have said. Maybe they can explain this to me: why is it okay for someone on a high income to get the full value of the tax benefits of franked dividends? It's okay for them. Opposition members interjecting— The SPEAKER: The member for Isaacs and the member for Bendigo! Mr MORRISON: You can be earning $500,000 a year and you can get the full value of your franked dividends, but if you're earning less than $18,000 a year, if you're earning less than $37,000 a year, there's no tax refund for you under the Leader of the Opposition's plan. There's no tax refund for you because he's getting his hands in your pockets, because this Leader of the Opposition is addicted to tax, because he's addicted to spending, and nothing can control him, other than the Australian people, by ensuring that this Leader of the Opposition can never get his grubby hands on the hard-earned earnings of retirees around this country. As we have seen, this policy, announced just two weeks ago, has turned to custard in a matter of days. First, they are going to compensate people. Then they are not going to compensate people. Then they are going to compensate people again. Now, here today, they may compensate people. This policy has been an absolute dog's breakfast. The shadow Treasurer—I don't know what it's worse: the idiot who put it forward or the idiot who agreed with it.