Govt pushed to fast-track tax cuts amid 'patchwork' economy | Sky News Australia

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Liberal Senator ajamesbragg says the economic reaction to the coronavirus pandemic was “always going to be a bit of a patchwork”.

Liberal Senator Andrew Bragg says the economic reaction to the coronavirus pandemic was “always going to be a bit of a patchwork”. The Menzies Research Paper on Wednesday suggested private investment tax cuts be brought forward to give business a boost as the nation navigated its way through an historic recession.

“We need to spur private investment, there is no other way to have a serious recovery other than through high private investment which leads to more jobs,” he said. “I’m hoping [the Treasurer] will consider accelerating the personal income tax changes that we’ve already legislated. “One of the mistakes we made coming out of the Great Depression was to hike taxes and that prolonged the economy.

 

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ajamesbragg The mistake liberals make is being in the pocket of businesses. Tax reductions to businesses do not create jobs and do not result in growth or investment. Stimulus that is linked directly to new job creation and new businesses creation directly create jobs

ajamesbragg If they had half a brain the gov would stimulate the economy with tax cuts to all workers as without customers spending more stimulus is required to prop up small businesses. The trick is not to stimulate businesses but to get money moving through them and that is customers

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