There’s still life in the company tax cut dog

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By Leith van Onselen

The Turnbull Government’s flea ridden $36 billion company tax cut package is still clinging to life with One Nation MP, Brian Burston, defying leader Pauline Hanson and supporting the legislation. From The Australian:

Senator Burston told The Australian he was blindsided by Senator Hanson’s decision to with­draw support for the package, saying he was a “very principled person” who intended to honour the deal struck with Finance Minister Mathias Cormann in March to pass the corporate tax cuts.

“I don’t want to cause any angst or division in One Nation, but once I make a handshake with somebody — that’s it,” Senator Burston said. “I stick to my word”…

Senator Burston yesterday revealed that he did not learn of One Nation’s decision to withdraw support for the company tax cuts until it emerged in The Australian last week…

With Burston’s support, the Government still needs four more Senate cross-bench votes out of six to pass the legislation. The remaining votes available are:

  • The remaining One Nation votes (two votes);
  • The Centre Alliance (two votes);
  • Independent senator Derryn Hynch; and
  • Independent senator Tim Storer.
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So it will be an uphill battle getting the necessary support in time for the scheduled Senate vote on 28 June.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.