This week will decide the fate of of the govt's proposed big tax cuts for
corporates including the big banks.
I note the Royal Commission into the Banks and Finance industry re-commenced
today and the revelations keep coming out about how they treated the public and
small business community including farmers who were maltreated.
Should the company tax cuts pass this week the pin stripe brigade running the big
banks will be laughing excuse the pun ‘all the way to the bank’. The govt would be forgoing
to the banks billions in tax which will likely be a lot more than the compensation and fines
the banks will have to pay for their disgraceful actions.
Labor and the Greens will oppose the tax cuts to big business and so it will be up to
the cross bench whether it will side up with the govt or block their passage.
It will be interesting to see how Hanson and the former Xenophon bloc votes!
