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Tax cuts on parliament agenda next week

AAP logoAAP 24/08/2016

Treasurer Scott Morrison will present his planned business tax cuts announced in the May 3 budget when the new parliament holds its first sitting next week.

The plan to cut the corporate tax rate to 25 per cent in increments over the next 10 years has proved controversial, but the treasurer believes it is critical for investment.

"Increasing taxes on investment is not a way to increasing investment ... driving that investment on the non-mining sector of the economy is critically important to our growth going forward," Mr Morrison said in answer to a question after delivering a speech to a Bloomberg conference in Sydney on Thursday.

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