JIM CHALMERS, ACTING SHADOW TREASURER
ANDREW LEIGH, SHADOW ASSISTANT TREASURER
LIBERALS DESPERATE TO JUSTIFY MULTINATIONAL TAX GIVEAWAY
The release of a Treasury report today on company tax cuts is yet another laughable attempt from the Liberals to justify tax giveaways for multinationals while jacking up income tax for workers.
Turnbull and Morrison are so out of touch they think the answer to the rampant multinational tax avoidance revealed in the Paradise Papers is to give big business a tax cut.
They must be the only people in Australia who think multinationals pay too much tax and middle-income earners pay too little.
The report does little more than rehash old Treasury modelling which suggests an average increase in GDP of just 0.05 per cent a year.
Under the Charter of Budget Honesty, what the Treasury really thinks the corporate tax cuts will cost the budget is in the budget and the mid-year updates.
If the Treasury really thinks the corporate tax cuts will make money for the budget, we look forward to that showing up in MYEFO in a few weeks’ time.
If it doesn't, we can conclude this is all just more pathetic spin from a Government desperate to distract from the fact it is unravelling before our eyes.
WEDNESDAY, 8 NOVEMBER 2017