Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Senator Wong, of course, knows that a more competitive business tax rate in Australia would lead to additional investment, would lead to more jobs and would lead to higher wages, because that is a point that not only the Leader of the Opposition has made day in and day out over the years; it's actually an observation that she herself has made on a number of occasions, and she knows that I'm telling the truth. None other than the shadow Treasurer, Chris Bowen, made the point on 22 September 2015 that a higher company tax rate in Australia hits workers the hardest—not shareholders, workers—when he was advocating for a reduction in the business tax rate down to 25 per cent. Clearly, the senior business leaders of Australia thought it was very important to put a concise and very clear statement to the Senate. They very clearly spelled out that if this business tax cut is passed in full, it will lead to more investment, which of course will lead to more jobs and will lead to stronger wages growth as the tax cuts come into effect. (Time expired)