Hanson hints at her price for supporting company tax cuts
The cost of a tax cut? A lot of coal, apparently. Photo: ABC
Pauline Hanson has hinted that a new coal-fired power station and a crackdown on tax avoidance by multinationals could be her price for supporting the government’s stalled corporate tax cuts.
After days of conflicting statements by the One Nation leader on whether she would support the government’s full tax package, Senator Hanson on Wednesday laid out two key demands.
“I have made it quite clear that multinationals need to be reined in. I’d like a coal-fired power station,” Senator Hanson said, responding to a question about whether the Coalition could win her support by clamping down on multinationals avoiding tax. “Those things really need to be addressed by this government.”
Senator Hanson made the comments after a meeting with Finance Minister Mathias Cormann during which the Coalition’s star negotiator attempted to swing One Nation’s two upper house votes in favour of the tax plan.
That meeting ended without Senator Cormann getting her “over the line,” she told reporters on Wednesday morning.
Senator Hanson has been gunning for a new coal-fired power plant in northern Queensland since last year, making it a key plank of One Nation’s campaign in November’s state poll in the Sunshine State.
After initially opposing the Coalition’s tax plan, the One Nation leader has taken multiple positions on the issue, changing her stance several times this week alone.
Shortly after appearing to lay out the terms for her support on Wednesday, Senator Hanson appeared to change tack again during an interview in which she said she’d come to a “firm decision” not to support the plan.
The Coalition wants to cut the corporate tax rate for all firms from 30 per cent to 25 per cent but has so far been unable to muster the necessary votes in the divided Senate.
The government needs eight crossbench votes to overcome opposition from Labor and the Greens. Even with One Nation’s two votes, however, the government would still need the support of another two crossbenchers.
The Coalition last year secured crossbench support to pass a limited phased tax cut for businesses earning up to $50 million.
Businesses earning up to $25 million have already seen their tax rate reduced from 30 per cent to 27.5 per cent. Firms turning over $50 million or less will see their taxes cut from July 1.