Malcalm Turnbull

Prime Minister Malcolm Turnbull and his business mates have wasted no time in coat-tailing US President Donald Trump and renewing their threat to cut the company tax rate.

Trump announced a plan on September 27 to slash the US corporate tax rate from 35% to 20%, at an estimated cost to the national budget of US$2 trillion over 10 years. He did not give any details, but it will be a massive public hand-out to big business. Meanwhile, Trump and the Republicans continue to seek to undermine health insurance for the poor.

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