This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/australia-news/2018/apr/25/coalitions-tax-cuts-could-win-final-two-votes-from-former-nxt
The article has changed 5 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Coalition's tax cuts could win final two votes from former NXT senators | Coalition's tax cuts could win final two votes from former NXT senators |
| (21 days later) | |
| Rex Patrick has signalled that the two Centre Alliance senators are open to persuasion on the government’s company tax plan, undertaking further “due diligence” despite their party’s initial opposition. | Rex Patrick has signalled that the two Centre Alliance senators are open to persuasion on the government’s company tax plan, undertaking further “due diligence” despite their party’s initial opposition. |
| While negotiations in March focused on senators Derryn Hinch and Tim Storer to provide the final two votes, the Coalition is turning its attention to Patrick and Stirling Griff, who indicated on Wednesday that guarantees on electricity prices, government revenue and service provision could help win support. | While negotiations in March focused on senators Derryn Hinch and Tim Storer to provide the final two votes, the Coalition is turning its attention to Patrick and Stirling Griff, who indicated on Wednesday that guarantees on electricity prices, government revenue and service provision could help win support. |
| Sign up to receive the top stories in Australia every day at noon | Sign up to receive the top stories in Australia every day at noon |
| Patrick told Guardian Australia the party – formerly the Nick Xenophon Team – had not changed its position but the “starting point” in the last sitting of parliament had been to oppose the tax cuts because it “had no time to deal with any issues of due diligence”. | Patrick told Guardian Australia the party – formerly the Nick Xenophon Team – had not changed its position but the “starting point” in the last sitting of parliament had been to oppose the tax cuts because it “had no time to deal with any issues of due diligence”. |
| “This pause has allowed us to go off and say, ‘It’s a serious piece of legislation we should look at it’ – that doesn’t mean we’re going to say yes,” he said. | “This pause has allowed us to go off and say, ‘It’s a serious piece of legislation we should look at it’ – that doesn’t mean we’re going to say yes,” he said. |
| Patrick said he was meeting economists and government officials to learn about “both the pros and cons” of the Coalition’s proposed second tranche of tax cuts for companies earning more than $50m a year, which will cost $35bn over its 10-year life. | Patrick said he was meeting economists and government officials to learn about “both the pros and cons” of the Coalition’s proposed second tranche of tax cuts for companies earning more than $50m a year, which will cost $35bn over its 10-year life. |
| “I have to present those to the party … I’m not forming a position on behalf of party, I’m gathering the pros and cons and what are the potential remedies to those.” | “I have to present those to the party … I’m not forming a position on behalf of party, I’m gathering the pros and cons and what are the potential remedies to those.” |
| Patrick noted that many business were concerned about power prices and a company tax cut “doesn’t necessarily help them if they’re not making a profit”. | Patrick noted that many business were concerned about power prices and a company tax cut “doesn’t necessarily help them if they’re not making a profit”. |
| “The government is saying we need [company tax cuts] to attract investment – I understand that,” he said. “At the same time, what about the companies that are looking to shut down? How do we address their concerns?” | “The government is saying we need [company tax cuts] to attract investment – I understand that,” he said. “At the same time, what about the companies that are looking to shut down? How do we address their concerns?” |
| Patrick said he had discussed power prices and the “longer-term outcomes” of the Coalition’s proposed national energy guarantee with the chief scientist, Alan Finkel, and the Energy Security Board chairwoman, Kerry Schott. | Patrick said he had discussed power prices and the “longer-term outcomes” of the Coalition’s proposed national energy guarantee with the chief scientist, Alan Finkel, and the Energy Security Board chairwoman, Kerry Schott. |
| The Centre Alliance wanted “assurances” gross national income would grow and that, if it didn’t, services would not be cut. | The Centre Alliance wanted “assurances” gross national income would grow and that, if it didn’t, services would not be cut. |
| He said the party was not in formal negotiations with the government but he was in contact with the finance minister, Mathias Cormann, who “could suggest some remedies” to its concerns. | He said the party was not in formal negotiations with the government but he was in contact with the finance minister, Mathias Cormann, who “could suggest some remedies” to its concerns. |
| Hinch was believed to be close to agreeing to the company tax cuts but in April hardened his position by renewing his call for the big four banks to be excluded after damaging revelations in the banking royal commission. | Hinch was believed to be close to agreeing to the company tax cuts but in April hardened his position by renewing his call for the big four banks to be excluded after damaging revelations in the banking royal commission. |
| On Tuesday Storer said he was still not intending to vote for the company tax cut because it was a “narrow change” rather than part of a broader tax reform and he was concerned about the government’s ability to return the budget to surplus. | On Tuesday Storer said he was still not intending to vote for the company tax cut because it was a “narrow change” rather than part of a broader tax reform and he was concerned about the government’s ability to return the budget to surplus. |
| Business council says exempting banks from Coalition's tax cut would punish customers | Business council says exempting banks from Coalition's tax cut would punish customers |
| The Senate is examining the package through a committee inquiry into the Business Council of Australia’s non-binding commitment that its members would increase investment if the company tax cut were passed. | The Senate is examining the package through a committee inquiry into the Business Council of Australia’s non-binding commitment that its members would increase investment if the company tax cut were passed. |
| In its evidence on Tuesday, the BCA took aim at Storer’s position, with its president, Grant King, arguing “the absence of a broad tax reform agenda should not be a reason to delay any tax reform”. | In its evidence on Tuesday, the BCA took aim at Storer’s position, with its president, Grant King, arguing “the absence of a broad tax reform agenda should not be a reason to delay any tax reform”. |
| One Nation has supported the package, despite initially opposing it. The party’s leader, Pauline Hanson, conceded on Tuesday that it might not increase wages. | One Nation has supported the package, despite initially opposing it. The party’s leader, Pauline Hanson, conceded on Tuesday that it might not increase wages. |
| She qualified the party’s support by suggesting some portion of the tax cuts should be quarantined to ensure that banks paid compensation to wronged customers. | She qualified the party’s support by suggesting some portion of the tax cuts should be quarantined to ensure that banks paid compensation to wronged customers. |
| The Senate inquiry will resume on Thursday with evidence from the Australian Council of Trade Unions, BHP and Fortescue Metals, Energy Australia and further evidence from the BCA. | The Senate inquiry will resume on Thursday with evidence from the Australian Council of Trade Unions, BHP and Fortescue Metals, Energy Australia and further evidence from the BCA. |
| Tax | Tax |
| Australian politics | Australian politics |
| Centre Alliance | Centre Alliance |
| Australian economy | Australian economy |
| Business (Australia) | Business (Australia) |
| news | news |
| Share on Facebook | Share on Facebook |
| Share on Twitter | Share on Twitter |
| Share via Email | Share via Email |
| Share on LinkedIn | Share on LinkedIn |
| Share on Pinterest | Share on Pinterest |
| Share on WhatsApp | Share on WhatsApp |
| Share on Messenger | Share on Messenger |
| Reuse this content | Reuse this content |