Treasurer Scott Morrison has outlined his plan for cutting corporate tax rates in a bid to create more jobs and boost the economy.

Mr Morrison joined Ross Greenwood on Monday saying, “the money is better off reinvested in new technology, new shop fronts and in wage growth for their own employees”.

Now the Federal Opposition has responded, slamming the plan.

“Labor believes we ought to be giving a better deal to middle Australia.

“We won’t support Scott Morrison’s attempts to raise taxes on everyone earning from $21,000 to $87,000.

“Because we don’t think at a time when wage growth is stagnant and corporate Australia is setting profit records, that the right thing is raising taxes on middle-income households and lowering taxes on big corporations.”

Click PLAY below for the full interview

Mr Morrison had a very different view though.

“One of the most insulting things about the Labor Party’s argument about these tax cuts is they say it’s a giveaway.

“But the businesses earnt the money. It’s their money.

“When you give someone a tax cut, you’re not giving them a welfare check, you’re letting them keep their own money.

Listen to the full interview below