Andrew Leigh 2022

LIAM BARTLETT:

The Albanese Government has opened consultations on international corporate tax reforms as part of its commitment to ensuring multinationals pay their fair share of tax.

During the election campaign, we announced our support for the OECD/G20 two-pillar solution on reforms that included a global minimum corporate tax rate of 15 per cent.

Last year, academics from the University at Albany and the University of Missouri published a research paper arguing that company taxes should be abolished. Part of their argument was that transfer pricing by multinationals has become so widespread that policymakers should give up on corporate taxation altogether.

Eight organisations have been added to the Register of Environmental Organisations (REO) as the Albanese Government continues to work through the backlog of advocacy organisations left in limbo by the previous government.

LUKE GRANT:

So back to our October budget and the balance between spending and saving. Of course, it's crucial. One man who's been a big part of the budget process unsurprisingly is the Assistant Minister for Competition Charities and Treasurer Andrew Leigh. Minister, welcome back to the show.

DR ANDREW LEIGH:

Good to be with you.

Introductory remarks

Good morning, my name is Andrew Leigh and as Assistant Minister responsible for multinational tax, I am very pleased to have the opportunity to speak to you at this important forum.

This bill will deliver on the government's election commitment to help ease the cost of living by increasing penalties for breaches of competition and consumer laws and to provide greater protections for small businesses from unfair contract terms.

The Albanese Government is introducing legislation to protect Australian households and ease the cost of living by increasing penalties for breaches of competition and consumer law.

Competition plays a vital role in driving down prices and changes to the law are necessary to ensure a level playing field and stop big companies from using their size to dominate markets.

Small businesses and the hard‑working Australians they employ will soon have greater protections as the Albanese Labor Government delivers on its election commitment to outlaw unfair contract terms.

Among Australian economists, few public servants are as revered as Roland Wilson, who ran the Treasury, the Australian Bureau of Statistics and the Department of Labour, serving both sides of politics.