Economist Saul Eslake has slammed the obsession with tax cuts for small businesses. Eslake believes these tax concessions have done little to boost jobs growth since they were introduced in 2015. Instead, small businesses have in fact shed jobs over the last five years.
Eslake has instead called for the tax concessions to be scrapped and redirected to start-up businesses, arguing that this would create more jobs, encourage innovation and help the Australian economy to recover from the coronavirus-induced recession:
Since 2015, small businesses have paid lower company tax rates than their larger peers…
