STATEMENTS BY MEMBERS

Ms PRICE (Durack) (13:39): The date 12 May 2026 will be forever remembered as the date that the Treasurer, Jim Chalmers, and Prime Minister Anthony Albanese ended aspiration in Australia. In this year's budget, Labor had the chance to rein in spending, offer real cost-of-living relief, support small businesses or even bring down energy bills. Instead, the Treasurer attacked the foundations of Australia: aspiration and small businesses.

First we had the mean and nasty Labor death tax. Now we have found another landmine—a birth tax. Where a child is born and added to a family or small-business trust after July 2029, they will be taxed higher.

Families should not be having to decide whether or not to include their newborn child in their business and be hit with a massive tax bill. Let's face it. That May 2026 budget was an absolute shocker.

There were several carve-outs, changes and backdowns from the Treasurer to fix his broken budget. Every time he does, sadly, shamefully, there is another toxic tax found to smash small business and aspiration. While Labor wants to end aspiration, investment and small business in Australia, the Liberal Party want to see them flourish, because we have always been the party of aspiration.

We will axe Labor's toxic taxes. We will restore confidence and certainty for small businesses. If you earn more, you should keep more.