STATEMENTS BY MEMBERS

Mr WALLACE (Fisher) (13:39): Last week, Labor was forced into yet another backflip. After six weeks of defending its budget, the government suddenly discovered what Australians already knew: this budget is flawed. It is fundamentally flawed.

But let's be clear. Labor's toxic taxes don't need a tweak. They don't need a carve out.

They need an axe. You don't fix a bad tax by making it more complicated, you scrap it and you start again. The problem isn't that Labor forgot to exempt one group or another; the problem is that this government sees higher taxes as the answer to every problem.

Tax retirement savings, tax investment, tax aspiration—they'll probably tax inspiration as well! Just this morning I received a letter from the Australian Chamber of Commerce and Industry warning that Labor's capital gains tax changes will mean less investment, less innovation and fewer jobs. I've also seen overwhelming support for my campaign in my electorate against Labor's health tax on seniors.

More than 8,000 Australians have signed my petition opposing Labor's decision to strip private health insurance rebates from older Australians. Australians are tired of backflips, they are tired of uncertainty and they are tired of this government. It is the most socialist government this country ever— (Time expired)