The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

13 March 2012

Joe Hockey says "No, No, No, No, No" to tax cuts for companies and small business

Shadow Treasurer Joe Hockey today confirmed for the first time that the Liberals will actually vote against a tax cut for companies and small businesses being delivered by the Gillard Government.

This is despite legislation for the business tax cuts to be considered separately to the Minerals Resource Rent Tax legislation currently before the Senate.

Today, Mr Hockey told journalists:

JOURNALIST: The mining tax has already gone through the House.  So that has to mean that the legislation for a company tax cut or the $5,000 instant right off has to be separate.  Are you signalling that when now this comes to the House that you would support a cut in company tax?

HOCKEY: No, No, No, No, No - we have said No.  I just said it.  I said it emphatically.


This is also a direct contradiction of his Leader Tony Abbott, who told the West Australian that:

“I'm not going to answer a hypothetical question, but I am going to state a very clear principle. First, the Government should keep its commitments and second, we support company tax cuts.”


Former Leaders of the Liberal Party must hanging their heads in embarrassment – the once proud party of Menzies and Howard has today confirmed for the first time it will vote against tax cuts for small business and companies.

Under Labor, all companies will receive a one per cent tax cut on 1 July 2013 – with small business receiving the tax cut from 1 July this year.

The Liberals would prefer to give a tax cut to Clive Palmer and Gina Rinehart than Australia's 2.7 million small businesses.  True to form, Tony Abbott will always look after vested interests over the interests of working Australians.

Labor wants to spread the benefits of the mining boom to all Australians as opposed to the Liberals, who think only a fortunate few deserve to benefit.