Prime minister commits to seeking ‘competitive’ rate rather than specifics

Malcolm Turnbull has given his government room to move on its unpopular tax cut for Australia’s biggest businesses after losing badly in Saturday’s critical byelection in the Queensland marginal seat of Longman.

While saying he would take the Coalition’s tax cut back to the Senate once federal parliament resumes after the winter recess, the prime minister only committed on Sunday to attempting to secure “a competitive company tax rate” rather than to the specifics of the government’s measure.

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