Conservatives leader Senator Cory Bernardi has pledged to fully support the government’s tax reform package of both personal and corporate tax cuts.
An opinion piece in the Australian Financial Review says cutting the company tax rate is about doing everything possible within our control to ensure Australia's economy is as competitive and resilient as it can be – come rain, hail or shine – and lock in stronger growth.
Cutting the company tax is a value-for-money insurance policy.
It's about putting in place the right settings to ensure we get the investment needed to drive future wages and jobs growth whatever economic surprises come our way.
Capital deepening has been the single biggest driver of higher labour productivity and therefore real per capita income growth in Australia for several decades and will remain so in future.
So, while it's good to see new non-mining business investment slowly emerge from years in the doldrums, this promising recovery remains tentative.
Senator Bernardi has told Channel 9 news the tax reform is now urgently needed.
To read Jennifer Westacott's full article, click here.
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