Published: 2 Jun 2016
The Turnbull Government’s big pitch to voters is in tatters with a report out today that Australia has the lowest proportion of manufacturing jobs in the OECD, the CFMEU said today.
And casting more doubt over the growth and job creation benefits of the Turnbull Government’s company tax cut, international banking firm Goldman Sachs has said that 60% of the benefit of the tax cut would flow to offshore investors.
The Council of Small Business has also said that fewer than 5% of small businesses would hire more staff as a result.
“When it comes to jobs, all the Liberal Party has is a slogan,” CFMEU National Secretary Michael O’Connor said today.
“On the Liberal Party’s watch, entire Australian industries are disappearing.
“Tax cuts for businesses do not translate into jobs. You need governments with an active role in supporting local industries.
“Not only has this Government completely neglected entire industries, it has signed one-sided free trade agreements granting protections for industries in other countries but not for Australian manufacturing.
“Jobs and growth only means something if you have a plan to back it up.
“Other than a massive company tax cut that even the business and banking sector question the benefits of, Malcolm Turnbull has got nothing.”