PM to protect company tax cut

Abbott govt cements $4bn company tax cut in budget despite hunt for new savings.

The Abbott government has ­cemented a $4 billion company tax cut in next week’s federal budget despite a renewed search for savings to offset a “deficit tax” that is set to be scaled back or scrapped.

Firewalling one of its flagship pledges, the government will proceed with the tax cut for employers as part of a “growth agenda” to counter fears that deep spending cuts will weaken the economy.

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