Poll on tax: Shorten

Let people have their say on Turnbull plan for business cuts

BILL Shorten says the next federal election should be a referendum on tax.

The Turnbull Government has shelved its draft laws to cut the corporate tax rate to 25 per cent until the May sessions of Parliament.

Finance Minister Mathias Cormann conceded on Tuesday the Government had only seven of the nine crossbench votes needed to pass the laws.

The Opposition Leader yesterday said it was time to dump the $65 billion business tax cuts.

“I am up for Mr Turnbull turning the next election into a referendum ... you vote (Liberal) to give the banks and multinationals a tax cut, (and) we make sure we will fund our hospitals and schools and look after ordinary working Aussies with tax relief,” he said.

Earlier, Labor tried to move a motion in Parliament forcing the Government to admit its company tax cuts put big business ahead of ordinary Australians. The stunt was quickly voted down 67 to 72.

A Federal Government frontbencher accused Labor of taking a “Venezuelan approach” to taxation.

Liberal MP Alex Hawke said the Government remained committed to the tax cut because of the dividend it would have for jobs and wages in the future.

“We are seeing that with some of the (already legislated) small and medium Australian business tax cuts,” Mr Hawke said. “The Labor Party has adopted this Venezuelan approach that you want to increase tax and have the highest company rate in the world and somehow the economy will still provide the jobs and the income that you really need.”

Prime Minister Malcolm Turnbull urged business leaders to talk to all senators.

“I would encourage you to talk to the Opposition and the Greens, but it might be a slog for you. You’re not afraid of a challenge,” he said at a Business Council of Australia function on Tuesday evening.