Bill Shorten has put his leadership on the line after making a “captain’s call” to repeal $20 billion in legislated tax cuts for up to 20,000 businesses in a risk-laden political move that has been privately condemned by shadow cabinet colleagues.
Conservative Party leader Cory Bernardi says Bill Shorten is a dud and only someone who lives off other peoples’ efforts would dismiss these tax cuts as unimportant.
The Australian reports the Opposition Leader caught his leadership group and the Labor caucus by surprise this week when he announced Labor would tear up tax cuts for businesses with annual turnovers between $10 million and $50m.
Mr Shorten’s announcement, made without consultation with his shadow cabinet or caucus, came days ahead of a scheduled tax cut for businesses with a turnover of $25m to $50m. He left the door open to go further and repeal existing tax cuts for businesses with a turnover of between $2m and $10m, which would force up to 100,000 small businesses employing 2.2 million people to restructure their businesses.
The move to scrap tax cuts for businesses with turnovers between $10m and $50m, which employ up to 1.5 million Australians, was attacked by Senator Bernardi last night on Paul Murray Live on Sky News.
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