The Australian welcomes the company tax cut, arguing that it will boost the competitiveness of Australian producers.
The Turnbull government secured tax cuts for businesses with an annual turnover of up to $50m. More than 800,000 small to medium businesses will see the company tax rate fall to 25% from 30% across the next three years.
The Australian points out that company tax plays a crucial role in the competition between developed nations for investment.
It pointedly says business investment in Australia has fallen as the resources boom petered out. Therefore, whatever the cost of corporate tax reform to government revenue, the risks and potential costs of a collapse in business investment stalling growth and jobs creation cannot be ignored.
The Australian also criticized Labors uncooperative manner in the negotiations, arguing that it speaks volumes about Mr Shortens propensity to put political self-interest ahead of the national interest that Labor was outshone by Pauline Hansons One Nation, senators Derryn Hinch and David Leyonhjelm and, finally, the Nick Xenophon Team.
