Will tax cuts to big business pass the Senate?
It’s starting to look like proposed cuts to company tax will die in the Senate.
Treasurer Scott Morrison is pushing to lower the company tax rate for big business from 30% to 25% but the Greens and Labor aren’t on board.
Tony Shepherd, businessman and former chair of the National Commission of Audit, tells Ben Fordham companies need to explain the benefits of tax cuts to ordinary workers.
“Candidly, I think business has got to improve its image with the general community anyway and this is a great way of doing it.
“Businesses have to say to their workforce, look this is what we’ll do for you.”
Mr Shepherd says slicing company tax cuts will grow wages and stimulate the economy but is unlikely to pass anytime soon.
“I think it’s a battle that’s going to be very hard to win. It may not happen this time but it could happen next time.”
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