Mr FRYDENBERG (Kooyong—The Treasurer) (14:27): I thank the member for Forrest for reminding this House that when the Labor Party last came to government they inherited a pristine balance sheet with no government debt. Mr Dreyfus interjecting— The SPEAKER: The member for Isaacs is now warned. Mr FRYDENBERG: It took John Howard and Peter Costello years to pay back Labor's debt. Now it has been left to the Morrison government to do it again. On budget night we put the first payment back on Labor's debt, with a surplus of $7.1 billion and $45 billion of surpluses over the forward estimates and a $55 billion turnaround on the fiscal mess that we inherited from the Labor Party. We have brought spending under control. Growth in government spending is now the lowest of any government in 50 years. The proportion of working-age Australians on welfare is the lowest of any government in 30 years. We have funded hospitals, schools and roads in record amounts. We have done all of that without increasing taxes. That is what we've done. The Labor Party are going to take to the Australian people at the next election a plan for at least $200 billion of new taxes. There is a new booklet out about Labor's taxes. The SPEAKER: The Treasurer knows the rules on props. Mr FRYDENBERG: I want to table the booklet, Mr Speaker. Thank you very much. Labor's tax bill—$200 billion of new taxes: a housing tax, with a 50 per cent increase in capital gains that could come at the worst possible time for the housing market; a shameful retirees tax on more than one million Australians who have done nothing wrong; a new tax on superannuation that's going to prevent catch-up contributions for mothers who have been out of the workforce having children; and a tax on family businesses, which is going to make their lives that much more difficult. When it comes to the housing tax, whatever the Leader of the Opposition says, for lower income earners, what he needs to tell the people of Australia tonight is how he's going to increase their rents, because, if you live in Brisbane, your rent will go up by up to $90 a week. If you're in Melbourne, your rent will go up by up to $65 a week. If you're in Adelaide or if you're in Perth, your rent will go up by up to $60 a week. And if you're in Sydney, under Labor's plan, your rent will go up by up to $50 a week. So the Labor Party has a plan for higher taxes. Any promise they make tonight, the Australian people will know, is only funded by higher taxes.