A rift in the business community has opened up over the Turnbull government’s proposed company tax cuts, with the head of the Australian Institute of Company Directors (AICD), Elizabeth Proust, appearing on ABC’s The Business last night (video above) and slamming the Business Council of Australia’s (BCA) blatant self-interest in demanding company tax cuts at the same time as wages growth is low, and households are feeling the pinch from rising energy and housing costs.
Proust warns that the BCA’s blatant self-interest is eroding the Australian people’s trust in business. And instead of demanding narrow company tax cuts, the AICD wants to see business groups argue for broad-based tax reform – along the lines of the Henry Tax Review – that balances the needs of both households and business.
Well said, Ms Proust.
