STATEMENTS BY MEMBERS

Mr WOOD (La Trobe) (13:36): 'My word is my bond' is a phrase never to be used again in Australia, and we can thank the Prime Minister for that, as, when he was asked 50 times prior to the election, 'Will there be changes to capital gains tax or negative gearing?' he kept on saying no. He even belittled the media when he was asked that question. It's an absolute shame, because it is a slur on all members of parliament when such a broken promise to the Australian people actually occurs.

But what it hurts the most is small business. Small business people who have had trust set up have had to go to their accountants and say, 'What do I need to do now?' They've already gone once, and now that we've seen this dirty deal with the Greens today, they're going to have to go and see their accountants again. There's no escape now that there are self-managed super funds.

They've now been hit today. The way small business has been hit in this country is an absolute travesty. Also, when it comes to capital gains tax, those who've put their future into having a 50 per cent write-off won't be able to do that in the future.

When it comes to first home owners, we see the mortgage clearance rates getting worse and worse each weekend. The Labor Party members may have celebrated on budget night, giving themselves high fives, but they have really hurt the Australian people and, in particular, business.