Forrest pleads for business tax cuts
Andrew Forrest says “self-interested” Labor and crossbench MPs should be kicked out of Parliament if they refuse to agree to business tax relief.
Mr Forrest said “rotten policies” were making Australia uncompetitive and would lead to a massive hit to the economy.
“If we’re going to whack on high Government taxes, then don’t expect anything but high unemployment and a low economy,” Mr Forrest said. “Everyone in Parliament who votes in a way that’s not in the best interest of Australia, you’re just there for your own self-interest and you shouldn’t be in Parliament, pretending you’re acting for others.
“As an Australian who came from nothing, if we don’t keep this country from slipping further behind, we’ll all go back to nothing.”
Mr Forrest said Australia had among the highest company tax rates in the world, yet Labor and crossbench senators continued to block Turnbull Government plans to cut it from 30 per cent to 25 per cent over the next 10 years.
US President Donald Trump wants to cut US company taxes from 35 per cent to 15 per cent, Britain is cutting them to 17 per cent and the average for OECD countries last year was 25 per cent.
Mr Forrest said there needed to be company tax cuts, power prices needed to come down, and the amount of labour regulation should be reduced to stop Australia losing its position in the world.