Pity the plan to reduce company Tax towards 25% as part of the RSPT/MRRT was not supported by the Libs and Greens. The boom in mining has been responsible in the main for the high AUD, low unemployment, high wages and high intetrest rates that are causing the hollowing out of our economy. The reduction of Company Tax would have enabled our higher cost companies to compete better with low cost overseas companies and provided us with a better structured economy being able to weather the next mining downturn.
We are now stuck with high AUD etc etc etc AND high company Tax.
