Mr FRYDENBERG (Kooyong—The Treasurer) (14:26): I thank the member for Bowman for his question. He is aware that in his electorate there are 68,000 hardworking Australians who are taxpayers who are going to get a tax cut as a result of legislation which this side of the parliament supported, and 28,000 of those taxpayers in Bowman will get the full $1,080. And there are 16,000 small businesses in the electorate of Bowman that will have access to the extended instant asset write-off. The coalition bequeathed to the Labor Party, when they came to office, a pristine balance sheet—no government debt, money in the bank and a $20 billion surplus. That was what John Howard and Peter Costello bequeathed to the Labor Party. What was their gift for us? Two hundred and forty billion dollars in accumulated deficits— Mr Brendan O'Connor interjecting— The SPEAKER: The member for Gordon is warned! Mr FRYDENBERG: and a final budget which was in deficit by three per cent of GDP, $48½ billion. Investment was in freefall. Unemployment was rising. We've turned it around. The coalition have turned it around, helping to create 1.4 million new jobs and employment growth which is now more than three times what we inherited. Trade relationships have been secured with China, Japan, Korea and the Trans-Pacific Partnership, opening up markets for Australian businesses to nearly two billion new customers. That's what we've done with our free trade agreements. And we have passed legislation to give tax cuts worth more than $300 billion in the last two budgets. That's the equivalent of the most significant tax cuts that this parliament has seen in more than two decades. That is our record: lower taxes and more jobs and a AAA credit rating in an economy that has just completed its 28th consecutive year of economic growth. But I'm asked: are there any alternative approaches? We know that those opposite are committed to $387 billion of higher taxes. Could you imagine putting on the Australian economy now, with the challenges that we face, $387 billion of higher taxes? What is more, the Labor Party are still committed to their class warfare rhetoric. The Leader of the Opposition went to the BCA this morning and whispered sweet nothings in the ears of business leaders, but the reality is: they still talk about 'the top end of town', we still remember about 'welfare for the wealthy' and we still remember that small businesses were 'fat cats'. You don't just need to change your language; you need to change your policies. Until the Labor Party change their policies, they're still the party— (Time expired)