tax

Prime Minister Malcolm Turnbull has seized on International Monetary Fund (IMF) forecasts predicting a rise in global economic growth following the US administration’s corporate tax cuts, to call for similar cuts here.

Describing the proposed cut as an “enterprise tax program”, Turnbull said on January 22 that the measure would “result in more investment and more jobs” — despite significant evidence that “trickle down” economics does not work.

Treasurer Scott Morrison has demanded that Labor supports its proposal to cut the tax rate for big business from 30% to 25%.

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