Recession in Australia

A new US report suggests that the tax cuts the government is anxious to give to large companies will end up in share buybacks and larger CEO remuneration rather than new investment and new jobs.

The Turnbull government remains committed to giving Australia's, and the world's, largest companies a huge tax cut that would drop their tax rate from 30% down to 25% over the coming decade, at a cost of over $60 billion in foregone revenue. The government, and business lobby groups like the Business Council of Australia -- whose members already pay, on average, less than 25% tax -- insist that the tax cut will increase investment, increase economic growth, increase employment, increase productivity and increase workers' wages.