Business groups warn Greens against “rush” to pass tax changes

Business groups are making a final plea for the Greens to vote down Labor’s capital gains and negative gearing changes, urging the minor party not to “conform to the government’s timetable” on passing the tax reforms this week.

There are growing expectations that the Greens will agree to a deal on the tax changes this week, potentially in exchange for a longer inquiry on the NDIS changes. We’re told that, at this stage, those discussions are ongoing.

The Australian Chamber of Commerce and Industry (ACCI), which represents employers and business groups, is writing to all MPs and senators asking them to oppose the changes and warning of what CEO Andrew McKellar said would “damage business investment, damage the Australian economy”.

“You can oppose this bill. You can decline to give it passage. At the very least, you can make significant amendments to ensure that it does not cause damage to the Australian economy in the years ahead,” he said at a press conference today in Parliament House.

“We are urging the Senate to go through that process, we are still very concerned that the changes that the government has foreshadowed last week don’t go far enough.”

McKellar, asked about the likelihood of a deal with the Greens, said he had been seeking to convince the minor party against backing the government.

“Take the time, you don’t have to conform to the government’s timetable on this. Take the time, get it right… we would urge them to take account of that,” he said.

McKellar said senators should not “rush this through”, raising concern that “there hasn’t been proper scrutiny of this legislation.”

“Everybody knows the Senate inquiry process was a whitewash. It hasn’t been handled in the manner that you would expect,” he claimed.