Australia's powerful business lobby has savaged federal politicians for failing to legislate tax cuts for large companies.
Jennifer Westacott from the Business Council of Australia said it was "bitterly disappointing" tax cuts for companies with annual turnovers above $50 million were dumped in August.
The coalition government ditched plans to lower the tax rate from 30 to 25 per cent after minor parties sided with Labor to block the plan.
"I think it's a terrible mistake - a colossal mistake - that the parliament has made," Ms Westacott told the National Press Club in Canberra on Wednesday.
"We will see in 10 years time how well the Australian economy fares as country after country after country lowers their rate and draws in more investment."
