Secret survey shows tax cuts won’t go to jobs

Original article by Laura Tingle, Phillip Coorey
The Australian Financial Review – Page: 4 : 27-Mar-18

Business Council of Australia members were asked in a recent survey how they would respond in the event of company tax cuts. They were given four options: returning funds to shareholders; boosting investment; giving current employees a pay rise; or hiring more staff. It is understood that less than 20 per cent chose either of the last two options. The responses seem to be at odds with a letter that the BCA and 10 prominent CEOs sent to all senators in the week ending 23 March, in which it suggested that implementing tax cuts would ultimately lead to more jobs and greater wage growth.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, QANTAS AIRWAYS LIMITED – ASX QAN, MYOB GROUP LIMITED – ASX MYO, BHP BILLITON LIMITED – ASX BHP, ENERGYAUSTRALIA PTY LTD, WOODSIDE PETROLEUM LIMITED – ASX WPL, FORTESCUE METALS GROUP LIMITED – ASX FMG, JBS AUSTRALIA PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, WESFARMERS LIMITED – ASX WES

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s