Tax plan still safe: PM
Hanson says deal is dead, but Turnbull not giving up hope
PRIME Minister Malcolm Turnbull remains confident about the future of his 10-year business tax plan even as Pauline Hanson digs in her heels and insists One Nation won’t back a cut in the corporate tax rate.
Senator Hanson pulled out of an agreement with the Government on Tuesday to support a reduction in the corporate tax rate to 25 per cent, blaming poor budget management and laxity on immigration.
Asked yesterday whether there was any chance of her re- considering her position, Senator Hanson said: “No, it won’t be reconsidered whatsoever.”
She added: “I cannot in all good conscience hand out a corporate tax cut to multina- tionals.” The Government needs the backing of One Nation to help pass the tax plan because Labor, the Greens and other crossbench senators are opposing the Bill that would reduce the business tax rate from 30 per cent.
In parliamentary Question Time Mr Turnbull repeatedly sidestepped Labor’s demands to reveal the deal that had been struck with Senator Hanson.
“We are always filled with optimism,” Mr Turnbull told Parliament.
“We are committed to a positive and respectful approach to the crossbench, to do all we can to ensure that our Budget and other measures are passed through the Parliament.”
Labor also jumped on a suggestion the Government would hand over year-by-year costings of its seven-year personal income tax cuts, a demand it has made for giving the full plan consideration.
The Opposition supports a new low and middle-income tax offset that would provide $530 relief each year and the lifting of the top end of the 32.5 per cent tax bracket from $87,000 to $90,000, both starting July 1.
But Labor wants more information on the tax cuts planned for 2022 and has “grave reservations” about the re- duction in 2024. “If we can negotiate with Labor to get this over the line, that would be ideal,” new Liberal senator Amanda Stoker said.
“If it means they need more information to do that, I believe that’s being organised.”
However, there was little sign that would happen when Treasurer Scott Morrison was quizzed on the issue in Question Time.
“I’ve been very clear ... the cost of the program is $13.4 billion over the forward estimates and $140 billion over 10 years,” he said. “I have a simple position to put to the Opposition — if you support lower and fairer taxes, vote for the Bill.”