The Coalition has a plan.
Cut taxes.
And then what?
That will attract investment which will create jobs and growth.
Investment in what?
Oh all sorts of innovative new things.
Like what?
Have you seen how much we are spending on defence materiel?
Yes, but won’t the vast majority of that $400 billion go to foreign arms manufacturers?
We are building lots of submarines.
How much more will it cost to build the subs here than to just buy them?
Not telling.
How many jobs will that create?
This $50 billion investment will directly sustain around 1,100 Australian jobs and a further 1,700 Australian jobs through the supply chain.
How much assistance did the car manufacturers need to keep manufacturing in Australia?
We are not in the business of propping up failing industries.
How much does the government give to the coal industry each year?
Coal will lift millions of Indians out of poverty.
But aren’t they using their own coal as well as expanding their renewable energy sector?
Look, I think you are forgetting that we are going to cut taxes.
Is that wise when revenue is falling?
Paul Keating did it.
Yes but when he cut company taxes he introduced the capital gains tax at full marginal rates, a comprehensive fringe benefits tax, a tax on company cars and he abolished entertainment as a deduction.
That’s why you can’t trust Labor – they will always introduce new taxes.
Wasn’t the GST a great big new tax on everything?
We took that to an election and besides, businesses can claim back the GST they pay.
But consumers can’t.
Look, we all know that it is businesses that create jobs and growth.
Businesses need customers and, with stagnant wage growth, people have less disposable income.
That’s why we are cutting company taxes so they will employ more people and increase everyone’s wages.
But why would they employ more people if demand hasn’t increased?
We are backing entrepreneurs and startup businesses.
Don’t 90% of startups fail?
Yes, but we learn things from every failure. We are also providing tax incentives to attract more venture capital investment – a 20 per cent tax offset on investments up to $1 million.
But early stage start-ups rarely earn enough money to pay tax.
We are investing in incubators and accelerators.
What’s that mean?
Lots and lots of presentations to clever young people which also provide an excellent photo opportunity.
Have any of those clever young people expressed the need for faster broadband speeds?
Our NBN will be cheaper and, as the Minister for Innovation, Science and Industry Christopher Pyne pointed out, you will be able to watch five full-length movies in the same household if you all want to at the same time.
On that note, we are out of time. Thank you Mr Turnbull.
Before I go, I just want to stress that it is only the Coalition who have a plan to transition the economy by placing as much public money and assets as we can get away with in the hands of private investors.
