‘Labor’s going down a very dangerous path’
The Federal Opposition is promising to roll-back company tax cuts already in place, putting at risk thousands of small to medium-size businesses.
Currently business with a turnover of up to $50-million get tax relief, but Labor Leader Bill Shorten believes that’s too generous.
He says if he wins the next election, he’ll wind back the tax cuts, only helping companies with a turnover of less than $10 million, arguing the money saved can be better spent.
The Outsider Mark Latham tells Ben Fordham “it’s very very bad economic policy”.
“They’re going to take away the tax cuts for businesses earning between $10-$50 million a year.
“It’s a disincentive for success, it’s a disincentive for companies to expand, to invest, to employ more Australians.
“Labor’s going down a very dangerous path because they’re not only wanting to reverse this particular tax cut, they’ve got an additional $200 billion of taxes in the locker.”
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