ACTU to dismiss BCA Corporate Tax Cuts pledge at Senate Inquiry

The ACTU will today appear before a Senate inquiry investigating the BCA’s tax pledge to demonstrate that the hollow words from the BCA and its members are a cynical and misleading ploy to gain political support for the government’s deeply unpopular corporate tax cuts.

 The ACTU will argue these tax cuts will not lead to more secure jobs for Australian workers or give workers the pay rise they desperately need. Malcolm Turnbull’s signature corporate tax cuts will simply result in $65 billion being taken away from our schools and hospitals.

Half of the companies that signed onto the statement from the BCA pledging to invest more in Australia and pay better wages if the Turnbull Government passes the remainder of its $65 billion corporate tax cuts, did not pay any tax in Australia in 2015-16.

Energy Australia, JBS, MYOB, Origin Energy and Qantas did not pay a cent of tax between them last year despite a combined income of $35 billion a year according to the most recent figures from the tax office, but say they need a tax cut so they can invest in Australian jobs.

 Quotes attributable to ACTU National Campaign Coordinator Lance McCallum:

• “Over a third of corporations in Australia are already not paying tax, but they want $65 billion in tax cuts. It’s pure corporate greed.”
•  “We’ve seen shocking revelations from the banking royal commission, so it is particularly obscene that the government and BCA have the gall to argue for billions in tax cuts for the big banks.
• “We have had record low wage growth while business profits have increased.
• “Wage rises don’t trickle down from employers, they are won by workers, and we need to give workers more power to demand the wage rises they need.
• “Big business needs to pay more tax, not less.
•  “The government should be investing $65 billion in job creating projects and services like transport, schools and hospitals.
• “We need to change the rules so that everyone pays their fair share of tax.”