Pauline backs away from Coalition tax cuts

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Lordy, another backflip:

One Nation leader Pauline Hanson has talked down any prospect of a deal with the government on company tax cuts this week, insisting she won’t support the bill unless multinational corporations are “reined in”, including their use of overseas call centres.

“People are fed up with talking to people from call centres from other countries,” Senator Hanson told Fairfax Media. “They should not be allowed tax deductions for these workers who are overseas.

“Further company tax cuts, I don’t believe that’s the answer, because we actually have to get this country back on track.”

Senator Hanson clarified her position after earlier suggesting she might support company tax cuts if the government could “plug holes” in the taxation system and squeeze $100 billion out of big firms such as Google and Apple.

And The Australian today:

Conservative crossbenchers have lashed Pauline Hanson for vowing to side with Labor and the Greens to block Malcolm Turnbull’s business tax cuts, as the government today intensifies its tax war with Bill Shorten by moving to force Senate debate on the final stage of its $65 billion plan.

Arguing the One Nation leader is putting her short-term political interest ahead of jobs, crossbench senators David Leyonhjelm, Fraser Anning and Cory Bernardi have piled pressure on Senator Hanson to reconsider her opposition to giving a tax break to businesses with annual revenue of more than $50 million.

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Pauline is right to call for the closing of the tax loopholes, right that we have a broken Budget outlook, and right to resist the corporate tax cut which is nothing but a giveaway to foreign shareholders when effective company tax it already very competitive.

Good job!

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.