Mr FRYDENBERG (Kooyong—The Treasurer) (14:29): I thank the member for Bennelong for his question. He is a former Australian No. 1 tennis player and now a champion on behalf of the Australian-Chinese community in Bennelong and a champion on behalf of his entire community, with around 80,000 taxpayers in Bennelong getting the benefit of the tax cuts that recently passed this parliament. Cutting taxes and cutting red tape is core business for the coalition. That is why we have reduced tax rates for small and medium-sized businesses to 25 per cent. That is why we have passed the most significant income tax cuts in more than two decades, which will see 94 per cent of taxpayers pay a marginal rate of no more than 30c in the dollar. That is why we have cut more than $5 billion worth of red tape. It is simply not on that back in the 1960s Sir Arvi Parbo could take a nickel mine from discovery to operation in just 18 months but today an iron ore mine in Western Australia could take 10 years to get the 4,000 approvals that are necessary. That is why our deregulation task force is focusing on major infrastructure projects and getting them approved more quickly; on food manufacturers, particularly those with a focus on export, and getting their red tape cut; as well as on sole traders who are running microbusinesses, and ensuring that their regulation burden is reduced. I'm asked whether there are any alternative approaches. We know that on the other side of the House they have $387 billion of higher taxes, which Chairman Swan thinks are good and should be kept and will make you want to work a bit harder. That's pretty funny: higher taxes will make you want to work a bit harder! Those retiree, housing, family business, superannuation and income tax hikes that the Labor Party was promising are not enough. Now we know that the member for Hunter wants a carbon tax. No doubt he will be supported by the member for Rankin, because the member for Rankin wrote a book called Glory Daze, where he said that the carbon tax that Labor introduced was easily as significant as any of the Hawke and Keating economic reforms. That's right, the member for Rankin thinks that a carbon tax is more important than floating the dollar, reducing tariffs or privatising industry. The reality is that the Labor Party, as Paul Keating has said, has lost the ability to speak to the aspirations of Australians and to fashion policies to meet those aspirations. Only the coalition can be trusted to reduce taxes and create more jobs. (Time expired)