A Shorten Labor Government will deliver tax cuts for small and medium size businesses, stop Turnbull’s tax handout for the big banks and properly fund schools and hospitals.
 
Labor has listened and we recognise that small and medium businesses need certainty and confidence for the future. We will not reverse the company tax rate of 27.5 per cent that will be in place at the time of the next election for small and medium business up to $50 million turnover a year. But we will not support Turnbull’s tax handout to the top end of town – big businesses, multinationals and the banks.
 
The next election will be a contest between Labor’s plan for better schools and hospitals, and Turnbull’s plan to give a $17 billion handout to the big banks.
 
We can afford to extend tax relief to businesses with a turnover of up to $50 million a year because we’ve made hard budget decisions to pay for our priorities.
 
With Labor – 99 per cent of businesses will receive a tax cut, no business will have their tax rate increased, and all businesses will be able to plan and invest with confidence and certainty.
 
All Australian businesses will also be able to benefit from Labor’s Australian Investment Guarantee, with tax breaks to expand and invest in their business – and support Australian jobs.
 
The choice at the next election is crystal clear.
 
A vote for Mr Turnbull and the Liberals is a vote to give $17 billion to the big banks while cutting $17 billon for our schools. We will fight Turnbull’s tax giveaway to the top end of town every day to the next election.
 
This decision saves $2 billion across the forward estimates and $62 billion across the 10-year medium term, money that will be used to pay down debt and to fund our priorities in health and education.
 
A vote for Labor is a vote for a better deal for schools, a better deal for hospitals, and a better deal for small and family businesses.