Secret BCA research: Company tax cut to bypass wages

Tuesday, 27 March 2018

Via the AFR:

Fewer than one in five of Australia’s leading chief executives say they will use the Turnbull government’s proposed company tax cut to directly increase wages or employ more staff, according to a secret survey conducted by the Business Council of Australia.

More than 80 per cent said they would either use the proceeds to boost returns to shareholders or invest in the company.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.