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Business Council on back foot after fresh company tax leak – politics live Tim Storer tells Senate why he's against Coalition's company tax bill – politics live
(35 minutes later)
Looks like China beat Trump to it:
China says North Korea pledges denuclearization during friendly visit https://t.co/gI4Rc5IldH
Fairfax has published this, just in time for question time:
EXCLUSIVE: Malcolm Turnbull office signed Vikki Campion's job transfer https://t.co/T97BtN9J3P #auspol By @CroweDM and Peter Hartcher
A key adviser to prime minister Malcolm Turnbull helped to formalise a job transfer for the partner of Barnaby Joyce, according to new details about the controversial decision to secure the new position in a ministerial office.
The letter from Mr Turnbull’s senior governance adviser was signed on 9 May last year and gave official clearance to the new role for Vikki Campion, who was in a relationship with Mr Joyce at the time and is due to give birth to their baby next month.
The role played by the prime minister’s office triggered detailed questioning in parliament last month amid an uproar over the relationship and the way the government moved Ms Campion from one office to another to manage the matter.”
Back to the press club for a moment, here is when the protester interrupted:
JUST IN: A 'Stop Adani' protester has interrupted the press club address of Resources Minister @mattjcan.MORE: https://t.co/ykweMeNddk pic.twitter.com/BSgokCNfyk
Tim Storer:Tim Storer:
I wish to thank Senator Cormann and his staff for their respectful, patient and courteous dealings with me over the last month in my commencement as a senator.I wish to thank Senator Cormann and his staff for their respectful, patient and courteous dealings with me over the last month in my commencement as a senator.
As an independent senator from South Australia, it is my intention to review each bill on its merits, examining all the the evidence available in a non-partisan manner. I believe this is what the South Australian people expect of me.As an independent senator from South Australia, it is my intention to review each bill on its merits, examining all the the evidence available in a non-partisan manner. I believe this is what the South Australian people expect of me.
My focus and evaluation of this bill has been on the impact to the future prosperity and fairness of all Australans and in particular to South Australians. My focus and evaluation of this bill has been on the impact to the future prosperity and fairness of all Australians and in particular to South Australians.
I have undertaken an at-length consideration of materials provided by many sources in relation to this bill, drawing on my business and economics background. I have held numerous meetings and received input from a wide-range of stakeholders, including members of the public, South Australian businesses and business groups, leading economist groups, national business council and their members. I have undertaken an at-length consideration of materials provided by many sources in relation to this bill, drawing on my business and economics background. I have held numerous meetings and received input from a wide range of stakeholders, including members of the public, South Australian businesses and business groups, leading economist groups, national business council and their members.
After undertaking that process, I remain to be convinced that in isolation from a broader discussion and initiatives on enhancing the overall sustainable of our taxation system that I should support this bill in its current form. After undertaking that process, I remain to be convinced that in isolation from a broader discussion and initiatives on enhancing the overall sustainability of our taxation system that I should support this bill in its current form.
I believe this bill is a narrowly cast proposition of change to the overall tax and transfer system, a system which itself continues to be felt by some economists and business leaders to be unsustainable. In the significant reforms posited in the Henry tax review of 2010, the reduction in company tax to 25 per cent was only one of a number of principle feature reforms which have not been acted upon. I believe this bill is a narrowly cast proposition of change to the overall tax and transfer system, a system which itself continues to be felt by some economists and business leaders to be unsustainable. In the significant reforms posited in the Henry tax review of 2010, the reduction in company tax to 25% was only one of a number of principal feature reforms which have not been acted upon.
I have doubts that the decision to reduce company tax for all companies is prudent to undertake in the face of Australia’s budget deficit and debt. Even without this tax cut, I doubt our present tax system is sufficiently robust to support a medium term fiscal strategy of budget surpluses, on average over the course of the economic cycle. I have doubts that the decision to reduce company tax for all companies is prudent to undertake in the face of Australia’s budget deficit and debt. Even without this tax cut, I doubt our present tax system is sufficiently robust to support a medium-term fiscal strategy of budget surpluses, on average over the course of the economic cycle.
Importantly I see the strength and timing of the affect of this proposed tax cut to be modest relative to its cost. With one of the highest rate of population growth in the developed world, I am mindful of other uses of government revenue which can generate prosperity and enhance fairness for the Australian people, such as - well targeted social and economic programs aimed at supporting businesses with RND, innovation and industrial transformation, funding of world class education and health systems, harnessing contribution potential of our youth and aging populations, reducing inequality and investing in public infrastruture. Importantly I see the strength and timing of the effect of this proposed tax cut to be modest relative to its cost. With one of the highest rates of population growth in the developed world, I am mindful of other uses of government revenue which can generate prosperity and enhance fairness for the Australian people, such as well-targeted social and economic programs aimed at supporting businesses with RND, innovation and industrial transformation, funding of world-class education and health systems, harnessing the contribution potential of our youth and ageing populations, reducing inequality and investing in public infrastructure.
On January 31 2018, in an opinion piece in the Australian Newspaper, the minister for urban infrastructure and cities, the honourable Paul Fletcher, noted that the Commonwealth share of total public infrastructure spending, rising to nearly 30 per cent would see a 0.5 to 0.7 per cent rise in GDP growth and jobs in the fiscal year 2018. On January 31 2018, in an opinion piece in the Australian newspaper, the minister for urban infrastructure and cities, the honourable Paul Fletcher, noted that the commonwealth share of total public infrastructure spending, rising to nearly 30% would see a 0.5 to 0.7% rise in GDP growth and jobs in the fiscal year 2018.
He noted that an investment in infrastructure results in long lived assets that deliver benefits to the community for many decades, but also stimulates economic growth as the investment occurs.He noted that an investment in infrastructure results in long lived assets that deliver benefits to the community for many decades, but also stimulates economic growth as the investment occurs.
So, as stated before, I remain to be convinced that I should support this bill in its current form, in isolation from a broader discussion and initiatives on enhancing the overall sustainability of our taxation system and with alternatives uses of government revenue that can generate prosperity and enhance fairness for the Australian people. So, as stated before, I remain to be convinced that I should support this bill in its current form, in isolation from a broader discussion and initiatives on enhancing the overall sustainability of our taxation system and with alternatives uses of government revenue that can generate prosperity and enhance fairness for the Australian people.”
Tim Storer is addressing the Senate on why he has not backed the government’s company tax legislation.Tim Storer is addressing the Senate on why he has not backed the government’s company tax legislation.
“I have doubts that the decision to reduce company tax for all companies is prudent,” he said.“I have doubts that the decision to reduce company tax for all companies is prudent,” he said.
I’ll have more for you in a moment, but like he told the Fin overnight, he doesn’t believe in tax reform in isolation and thinks there needs to be a whole reform.I’ll have more for you in a moment, but like he told the Fin overnight, he doesn’t believe in tax reform in isolation and thinks there needs to be a whole reform.
I just moved across to the Senate in time to hear Pauline Hanson ask “If you marry someone, do you actually have the right to call yourself Indigenous-through marriage?” as part of a Treasury laws amendment, and I think my eyes rolled back so far I actually saw the back of my brain.I just moved across to the Senate in time to hear Pauline Hanson ask “If you marry someone, do you actually have the right to call yourself Indigenous-through marriage?” as part of a Treasury laws amendment, and I think my eyes rolled back so far I actually saw the back of my brain.
It looks like an Anti-Adani protester just attempted to disrupt Matt Canavan’s address by jumping on the stage, but security was prepared and the protester, who was yelling “no more coalmines” was quickly ushered off.It looks like an Anti-Adani protester just attempted to disrupt Matt Canavan’s address by jumping on the stage, but security was prepared and the protester, who was yelling “no more coalmines” was quickly ushered off.
Canavan had this to say:Canavan had this to say:
I should also welcome, I should have welcomed at the start, those outside this place. It is a democracy and I welcome the opinions and views, and it is a sector worth supporting, in my view, because of the people in this room, like Patrick and Irene who do want to see a strong resource sector.I should also welcome, I should have welcomed at the start, those outside this place. It is a democracy and I welcome the opinions and views, and it is a sector worth supporting, in my view, because of the people in this room, like Patrick and Irene who do want to see a strong resource sector.
I welcome the views of outside. But I want to make the point in Canberra, recently, 10 people were charged with tresspassing on Adani’s property in Bowen. Nine were from interstate, not even from Queensland, and the 10th was from Cairns. If we’re going to lift millions of people out of poverty, we’re going to need a lot of resources including coal and what is good for the resources sector is good for the rest of the world.”I welcome the views of outside. But I want to make the point in Canberra, recently, 10 people were charged with tresspassing on Adani’s property in Bowen. Nine were from interstate, not even from Queensland, and the 10th was from Cairns. If we’re going to lift millions of people out of poverty, we’re going to need a lot of resources including coal and what is good for the resources sector is good for the rest of the world.”
Matt Canavan has begun his National Press Club address, with a focus on the people who rely on the Australian resources industry.Matt Canavan has begun his National Press Club address, with a focus on the people who rely on the Australian resources industry.
I want to talk about Alicia, who I met at BMA Peak Downs mine last year. She got her first start at the mine; she moved from Brisbane to Dysart for the job. The mining industry gives lots of young Australians their first start in life.I want to talk about Alicia, who I met at BMA Peak Downs mine last year. She got her first start at the mine; she moved from Brisbane to Dysart for the job. The mining industry gives lots of young Australians their first start in life.
Secondly, I want to talk about Elizabeth. She owns a company called Gecko Systems which she started in her garage in Ballarat and sells to the industry around the world. I saw her in Toronto recently. This sector gives so many people the opportunity to compete on the global stage.Secondly, I want to talk about Elizabeth. She owns a company called Gecko Systems which she started in her garage in Ballarat and sells to the industry around the world. I saw her in Toronto recently. This sector gives so many people the opportunity to compete on the global stage.
The third person I want to speak about is Roger. He manages the Hide Away resort off Great Keppel Island ... in Queensland. But he is a third-generation coalminer and loves the reef and knows only so many customers can afford to come to the island because they have got a good paying job in the sector.The third person I want to speak about is Roger. He manages the Hide Away resort off Great Keppel Island ... in Queensland. But he is a third-generation coalminer and loves the reef and knows only so many customers can afford to come to the island because they have got a good paying job in the sector.
The fourth person is Patrick Malone, and I note Irene Simpson, the elders of the people who have the native title rights over the land for the Adani Carmichael mine. You might have heard of it before. They support the development of the mine, as does another 292 elders of the peoples who turned up at an authorisation meeting in Maryborough about two years ago now, where the Adani mine was supported 294 to 1 in favour of going ahead.The fourth person is Patrick Malone, and I note Irene Simpson, the elders of the people who have the native title rights over the land for the Adani Carmichael mine. You might have heard of it before. They support the development of the mine, as does another 292 elders of the peoples who turned up at an authorisation meeting in Maryborough about two years ago now, where the Adani mine was supported 294 to 1 in favour of going ahead.
I support this sector because it gives our first Australians the opportunity for economic advancement and a job. We in Canberra think about the industry in terms of billions of dollars of exports, thousands of jobs, all the big numbers, but it’s not why the industry is important. It’s important because of the people it supports around our country. It’s important because of the families that it helps to provide for and keep them in a home.”I support this sector because it gives our first Australians the opportunity for economic advancement and a job. We in Canberra think about the industry in terms of billions of dollars of exports, thousands of jobs, all the big numbers, but it’s not why the industry is important. It’s important because of the people it supports around our country. It’s important because of the families that it helps to provide for and keep them in a home.”
Alan Jones has had a pretty strong reaction to Malcolm Turnbull’s comments yesterday that sledging needs to stop in cricket:Alan Jones has had a pretty strong reaction to Malcolm Turnbull’s comments yesterday that sledging needs to stop in cricket:
The Prime Minister should be the last person to talk about cheating or sledging. Is this the same Malcolm Turnbull who screamed and called Tony Abbott a "disloyal c..." on a private jet? I would've thought that was severe sledging. @SharriMarksonThe Prime Minister should be the last person to talk about cheating or sledging. Is this the same Malcolm Turnbull who screamed and called Tony Abbott a "disloyal c..." on a private jet? I would've thought that was severe sledging. @SharriMarkson
For anyone asking why the Kremlin would bother sending spies to Australia, I would remind you that we are part of the Five Eyes intelligence alliance – and for many years were considered to be the weak link.For anyone asking why the Kremlin would bother sending spies to Australia, I would remind you that we are part of the Five Eyes intelligence alliance – and for many years were considered to be the weak link.
Plus, you know, China.Plus, you know, China.
Back to policy for a moment, and Labor isn’t taking any steps back from its tax plan, although the government is about to ramp up its attacks to 11.Back to policy for a moment, and Labor isn’t taking any steps back from its tax plan, although the government is about to ramp up its attacks to 11.
Bill Shorten:Bill Shorten:
The reason why we are doing this long overdue reform is [that] it is a question of priorities. Did you know we are the only country in the world that gives an income tax refund to people that do not pay income tax? That is not a sustainable system going forward. You need to make tough choices. When I look into the faces of those cancer victims today, I am completely confident that Labor’s priority to put them first, to reverse and to challenge the cuts to hospital funding which Mr Turnbull’s doing, that is more important to me. If you want to have the country and the world’s best tax loopholes, vote for Malcolm Turnbull.”The reason why we are doing this long overdue reform is [that] it is a question of priorities. Did you know we are the only country in the world that gives an income tax refund to people that do not pay income tax? That is not a sustainable system going forward. You need to make tough choices. When I look into the faces of those cancer victims today, I am completely confident that Labor’s priority to put them first, to reverse and to challenge the cuts to hospital funding which Mr Turnbull’s doing, that is more important to me. If you want to have the country and the world’s best tax loopholes, vote for Malcolm Turnbull.”
That reference to cancer patients is because the press conference was held at the Canberra hospital’s integrated cancer facility.That reference to cancer patients is because the press conference was held at the Canberra hospital’s integrated cancer facility.
Labor is taking its tax policy on the road, keen to highlight where it would spend the $55bn or so it says it will save by scrapping franking credits.Labor is taking its tax policy on the road, keen to highlight where it would spend the $55bn or so it says it will save by scrapping franking credits.
Speaking this morning, Bill Shorten said when it came to Russia, the opposition was in lockstep with the government:Speaking this morning, Bill Shorten said when it came to Russia, the opposition was in lockstep with the government:
I support the decisions of the government and I support the actions and advice of our security agencies. We have to call it straight. What we saw in Great Britain was the Russian government engaging in illegal behaviour, engaging in violent criminal activity, and what we also saw them do is not only were they chasing former Russians who were resident in the UK but also their actions endangered the lives of British citizens. What they did was well beyond the pale of what is acceptable and we also need to remember that we have never got to the bottom of who shot down MH17. I think if the Russian government wants to regain some trust in Australia, I think they need to cooperate more fully because 38 Australians were murdered that day.”I support the decisions of the government and I support the actions and advice of our security agencies. We have to call it straight. What we saw in Great Britain was the Russian government engaging in illegal behaviour, engaging in violent criminal activity, and what we also saw them do is not only were they chasing former Russians who were resident in the UK but also their actions endangered the lives of British citizens. What they did was well beyond the pale of what is acceptable and we also need to remember that we have never got to the bottom of who shot down MH17. I think if the Russian government wants to regain some trust in Australia, I think they need to cooperate more fully because 38 Australians were murdered that day.”
Julie Bishop missed the Grigory Logvinov hour:Julie Bishop missed the Grigory Logvinov hour:
I heard he covered a lot of ground. I expect to meet with him today. My message to him is that there has been a pattern of behaviour from Russia in recent times going against international order. Russia is not playing by the rules, whether it is cyber-attacks,interference, the illegal annexation of Crimea, interfering in the sovereignty of other nations. Their attitude and conduct towards MH17,and now another attempted assassination, in this case, the deployment of a Russian military grade nerve agent on British soil.It is unacceptable. The conduct of Russia has consequences. Hence the massive expulsion of Russian diplomats from embassies around the world. This is a collective voice saying to Russia you have crossed the line and we will not accept this behaviour”I heard he covered a lot of ground. I expect to meet with him today. My message to him is that there has been a pattern of behaviour from Russia in recent times going against international order. Russia is not playing by the rules, whether it is cyber-attacks,interference, the illegal annexation of Crimea, interfering in the sovereignty of other nations. Their attitude and conduct towards MH17,and now another attempted assassination, in this case, the deployment of a Russian military grade nerve agent on British soil.It is unacceptable. The conduct of Russia has consequences. Hence the massive expulsion of Russian diplomats from embassies around the world. This is a collective voice saying to Russia you have crossed the line and we will not accept this behaviour”
While the Russian ambassador has been entertaining members of the press gallery (and the nation via live coverage) at his Canberra residence, Labor has distributed what it says is a draft of a public statement the Business Council of Australia issued last week, targeted at members of the Senate, in support of the big business tax cut.While the Russian ambassador has been entertaining members of the press gallery (and the nation via live coverage) at his Canberra residence, Labor has distributed what it says is a draft of a public statement the Business Council of Australia issued last week, targeted at members of the Senate, in support of the big business tax cut.
Regular readers will know that the BCA issued a brief statement last week signed by 10 chief executives making a non-specific commitment about investment in the event the company tax cut passed.Regular readers will know that the BCA issued a brief statement last week signed by 10 chief executives making a non-specific commitment about investment in the event the company tax cut passed.
The document Labor is distributing, headed “Informal Compact”, is a much longer document spelling out specific commitments in the event the company tax passes. It reads: “If the Senate passes the enterprise tax plan in full, we will – 1. Create more Australian jobs in the cities, suburbs, town and bush; 2. Invest in more Australian projects and ideas – especially in remote and rural Australia; 3. Be in a stronger position to avoid offshoring of jobs; 4. Be able to increase wages when the conditions are right; 5. Pay our tax and show our commitment by signing the ATOs tax transparency charter.”The document Labor is distributing, headed “Informal Compact”, is a much longer document spelling out specific commitments in the event the company tax passes. It reads: “If the Senate passes the enterprise tax plan in full, we will – 1. Create more Australian jobs in the cities, suburbs, town and bush; 2. Invest in more Australian projects and ideas – especially in remote and rural Australia; 3. Be in a stronger position to avoid offshoring of jobs; 4. Be able to increase wages when the conditions are right; 5. Pay our tax and show our commitment by signing the ATOs tax transparency charter.”
I’ve had a preliminary conversation with a BCA spokesman, who says this statement is a separate document to the brief statement that was issued by the BCA last week.I’ve had a preliminary conversation with a BCA spokesman, who says this statement is a separate document to the brief statement that was issued by the BCA last week.
There is also a statement from the BCA chief executive, Jennifer Westacott:There is also a statement from the BCA chief executive, Jennifer Westacott:
In agreement with our members, the BCA began a process for developing a statement of commitments to the Australian people.In agreement with our members, the BCA began a process for developing a statement of commitments to the Australian people.
We realise that in order to reestablish the community’s confidence in business we need to respond to the issues that matter most to them.We realise that in order to reestablish the community’s confidence in business we need to respond to the issues that matter most to them.
The statement will go beyond the company tax debate and outline what the business community will do to help the nation deal with the challenges of the future.The statement will go beyond the company tax debate and outline what the business community will do to help the nation deal with the challenges of the future.
These include how we create more meaningful and well-paid jobs for people, how we support more Australian projects and ideas, how we keep Australians in jobs in Australia, including taking responsibility for the transition taking place in our workplaces, and ensure we pay our tax openly and transparently.These include how we create more meaningful and well-paid jobs for people, how we support more Australian projects and ideas, how we keep Australians in jobs in Australia, including taking responsibility for the transition taking place in our workplaces, and ensure we pay our tax openly and transparently.
Given the broad and diverse nature of the businesses represented by our members, we are consulting with them closely to ensure we can make a meaningful commitment.Given the broad and diverse nature of the businesses represented by our members, we are consulting with them closely to ensure we can make a meaningful commitment.
This process is ongoing.This process is ongoing.
Last night the BCA launched an advertising campaign to try to win hearts and minds in the Australian community and push back against progressive campaigns that the business community considers deleterious to its interests.Last night the BCA launched an advertising campaign to try to win hearts and minds in the Australian community and push back against progressive campaigns that the business community considers deleterious to its interests.
Labor will pursue this issue throughout the parliamentary day. There has already been some procedural theatrics in the house.Labor will pursue this issue throughout the parliamentary day. There has already been some procedural theatrics in the house.
In other news, Tony Abbott has launched the annual pollie pedal this morning.In other news, Tony Abbott has launched the annual pollie pedal this morning.
Russia has no spies in Australia. Ha ha.Russia has no spies in Australia. Ha ha.
I absolutely need a vodka and a lie down after that. It’s partly a Pavlovian response to hearing those arguments put forward in a Russian accent (hey Uncle Sarunas) and partly because that was an incredible hour of absolute insanity.I absolutely need a vodka and a lie down after that. It’s partly a Pavlovian response to hearing those arguments put forward in a Russian accent (hey Uncle Sarunas) and partly because that was an incredible hour of absolute insanity.
Grigory Logvinov is now prosecuting Russia’s grievances with Nato (which go back to Mikhail Gorbachev) at this press conference.Grigory Logvinov is now prosecuting Russia’s grievances with Nato (which go back to Mikhail Gorbachev) at this press conference.
(This is something I have heard about my entire life, from all sides, and also something that will be spoken about in 3018.)(This is something I have heard about my entire life, from all sides, and also something that will be spoken about in 3018.)
As to why he believes Australia has joined forces with the UK and others, Logvinov had this to say:As to why he believes Australia has joined forces with the UK and others, Logvinov had this to say:
I don’t believe it is simple and that the Australians are so simple that they can be fooled by anyone. I respect my Australian colleagues and that they are very able diplomats. Secondly, it was stated yesterday, we understand that it is 100% policy and that Australia is acting within the framework of the Euro Atlantic and Anglo-Saxon solidarity. That’s all.”I don’t believe it is simple and that the Australians are so simple that they can be fooled by anyone. I respect my Australian colleagues and that they are very able diplomats. Secondly, it was stated yesterday, we understand that it is 100% policy and that Australia is acting within the framework of the Euro Atlantic and Anglo-Saxon solidarity. That’s all.”