The key crossbench senator Nick Xenophon has signalled publicly to the Turnbull government he will look at cutting tax for big companies if the government guarantees it will implement a bipartisan emissions intensity trading scheme in the electricity sector. Xenophon criticised the government for walking away from an intensity scheme for electricity, which had been championed by Malcolm Turnbull in the late 2000s. The government’s business tax package is designed to reduce tax rates for all business to 25% by 2026-27. Xenophon’s ask on emissions trading hits an acute point of sensitivity within the Coalition. The government ruled out pursuing emissions trading last December after a brief internal revolt.

Source: The Guardian March 27, 2017 04:52 UTC