'Disappointed': Dani Wood stands firm on tax reform despite big business backlash
The Productivity Commission chair has hit back at criticism from the business community over her proposals for a cashflow tax.
Danielle Wood has expressed disappointed about the reaction from corporate Australia to the Productivity Commission’s recommendations for a new cash flow tax. And she thinks the government may need to push ahead with reforms regardless.
“I think there’s some things that we probably all agree [on], that there’s a whole lot of approvals in the economy that take too long, and there may be things that governments can do straight away to make a difference to that," the PC chair told Capital Brief in an interview.
“In other areas, I think consensus is going to be harder. And it may rely on governments just making calls that they perceive as being in the national interest even if not every stakeholder group is on board," Wood said.
Wood, speaking shortly after the release of the first of five interim reports which will inform the government’s upcoming Economic Reform Roundtable, was careful with her commentary around the business community's decision to quickly rally against proposals to cut the company tax rate to 20% for businesses with revenue under $1 billion, and a impose a new net cashflow tax of 5% on all companies.
