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Transcripts from the Prime Ministers of Australia

Transcript 41670

Doorstop, Parliament House

Photo of Turnbull, Malcolm

Turnbull, Malcolm

Period of Service: 15/09/2015 to 24/08/2018

More information about Turnbull, Malcolm on The National Archive website.

Release Date: 20/06/2018

Release Type: Transcript

Transcript ID: 41670

Subject(s): Telstra; Tax relief

Location: Canberra

PRIME MINISTER:

The loss of so many jobs is very, very tough, heartbreaking news for the Australians, the Australian workers at Telstra - eight thousand over the next three years - that have been affected.

I've spoken with the chief executive about this last night. Telstra is putting in place a fund, as you know, to support the transition of the employees that leave Telstra onto new occupations and new opportunities.

But it's a reminder of why it's so important to have a strong economy. A strong economy where new jobs are being created all the time so that while one company reduces its workforce there are other businesses, new businesses and including in that telco sector which is a very dynamic one, that are creating new opportunities.

The most important thing is to maintain a strong economy and that is what our policies are doing and that is what our economic plan is doing. It is what our tax relief is doing at the corporate level and will continue to do and of course it is why our personal income tax reform is so important.

A strong economy ensures that people who lose a job in one business will be able to find a new job or start their own business. Andy Penn, as I said, has given me an undertaking that Telstra will be putting the $50 million he mentioned to work to ensure that transition is supported. But the greater security for the future of those employees comes from having a strong economy and the greatest threat to that is Bill Shorten and the Labor Party.

JOURNALIST:

[inaudible] stage three of the tax cuts?

PRIME MINISTER:

I’m sorry I didn’t hear that question.

JOURNALIST:

[inaudible] stage three. Will the House reinstate them?

PRIME MINISTER:

Of course, we are committed to our comprehensive plan to deliver long term personal income tax reform.

This is a comprehensive plan that is founded on the aspiration and enterprise of Australians.

Under our comprehensive personal income tax plan, when it is fully complete in 2024-25, 94 percent of Australians will not have to pay more than 32.5 cents in any extra dollar they earn.

Labor says they're mystified by aspiration. We know Australians are inspired by aspiration and they want to see a government that encourages them to have a go and get ahead.

We've just heard Mr Paloulian, who has talked about his story here as a refugee who has gone into business and he's talked about the way he has set up his tennis coaching business, how he was inspired to get ahead, start his business. That is the Australian spirit.

We believe in aspiration. We're not mystified by it like the Labor Party is. We recognise it, we embrace it and our tax plan will empower it. Thanks very much.

[ENDS]

Transcript 41670