21 June 2018
Transcript - #2018120, 2018

Interview with The Project

Subjects: Lower, fairer and simpler taxes for all working Australians.

HAMISH MACDONALD:

You’re obviously pretty happy with this outcome but you did opt for an all or nothing approach with the whole tax package. You gambled big and ultimately you won big.

TREASURER:

First of all, let me congratulate Carrie on your great news and wish you all the best, God bless. But on the broader issue of tax relief today, it's great news for people who go to work and pay tax every day. Particularly for younger Australians as they look out over the next decade and what they hope to achieve over the next decade. And as they do better they won't face higher rates of tax in the future with the extra dollars they earn. I think it's a great incentive for them.

HAMISH MACDONALD:

But taking that gamble with all or nothing here, you were playing with people's livelihoods if this didn't go through.

TREASURER:

What we did was we set out a plan in the Budget, which is what you do, and when I put something in a Budget I intend to follow through with it. I think it's the right thing to do for the country, Australians paying less tax into the future, keeping more of what they've worked hard for and for their families. We're starting off with low and middle income earners and for a two income family, for many of them that's over $1,000 over the year, they get it all in one hit. That means that’s half a year's electricity bill for many people. It’s tyres on the car, it's a range of very important expenditure that they'll be able to meet as a result of what we've done. It's affordable, it’s responsible and it provides incentive and rewards aspiration, which we think is a good thing.

RACHEL CORBETT:

The last of these tax cuts come into effect in seven years’ time. What if the economy isn't as strong as you assume it is and then you're giving out tax cuts to people who are high income earners on $200,000 plus a year? Isn't that irresponsible?

TREASURER:

This applies to all areas of what the Government does. You could say the same thing about anything the Government does. We provide certainty and commitment to funding for hospitals and schools, $30 million extra for hospitals over the next five years, more than $20 billion in extra for schools. What this does is says to those who are out there earning in the economy working in the economy, they need to share in the benefits of the stronger economy that we're creating. We have had record jobs growth, a million jobs created since we were first elected and 80,000 young people – 80,000 – got a job in the last 12 months. That's fantastic.

PETER HELLIAR:

Treasurer, here's what Pauline Hanson had to say about the bill passing.

PAULINE HANSON: Look, I'm going to take credit for this as well because I was one of the Senators who actually has supported it.

PETER HELLIAR:

Got to say, ScoMo you two work pretty well together.

TREASURER:

G'day, Pete. We missed you this year at the Budget, mate. I had no one to listen to Tina Arena with. That is what I was looking for mate.

PETER HELLIAR:

No, never again, mate. Bloody dull to be honest.

TREASURER:

I'm shocked! No! This is terrible. Tina, you get on to Helliar. I know she is on regularly on the program.

CARRIE BICKMORE:

Forget Tina, what about you and Pauline?

TREASURER:

Well, look, I appreciate her support and all the other Senators and everyone who voted for it in both the House of Representatives and the Senate because they're saying to people, particularly younger people going into their careers, that they've got some certainty that in the future they won't have to pay that extra tax. That's what the Parliament is there to do. We took our argument to the Parliament. We put it in there and we were able to convince them and get that support. So, I think it's a big win for Australians who pay tax and work for a living.

HAMISH MACDONALD:

Scott Morrison, we'll leave it there. Thank you.

TREASURER:

Thanks Hamish.