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Finance Minister hopeful corporate tax cuts will succeed following income policy win

Finance Minister Mathias Cormann is hopeful the federal government’s corporate tax cuts can get over the line, after the Coalition’s income tax package successfully passed the Senate today.

Mr Cormann tells Ross Greenwood he’s had constructive talks with crossbench senators including One Nation leader Pauline Hanson, who publically retracted her support for the proposed company tax breaks.

“I’ve had very good conversations with Pauline Hanson and her team and I’ve had very good conversations with all senators on the crossbench in relation to our proposal to lower business tax rates,” Mr Cormann says.

“Ultimately it’s a matter for every individual senator to make a judgement on what they believe is in our national interest.

“We hope that ultimately… when this comes to a vote in the Senate, that they will be persuaded by the merits of our argument.”

The Finance Minister says anyone who stands in the way of the tax cuts to big business is “standing to help businesses overseas take business and jobs and investment away from Australia”.

When it comes the government’s success in getting its seven-year $144 billion income tax package passed, the Finance Minister says they’re doing the “right thing” for families and the economy.

“We’ve got a plan that sees us both pay off government net debt… as well as providing income tax relief to hardworking Australians.”

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