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When parliament resumes on 9 May, the government delivers its budget. The government needs the Senate to support its tax package this week so it can include the package in its budget but it does not have the numbers. The Greens oppose the $48bn tax cut plan outright, Labor is only supporting tax cuts for businesses with a turnover of $2m, independent senators Derryn Hinch and Jacqui Lambie support tax cuts for businesses with $10m turnover and One Nation is supporting tax cuts for businesses with $50m turnover . The Nick Xenophon Team says it supports tax cuts for business with $10m turnover, with the option of negotiating higher if the government supports an emissions intensity scheme. But negotiations with NXT hit a hurdle on Wednesday because Xenophon had to return to Adelaide for a family funeral. I think Senator Xenophon understands the importance of business investment in sectors like manufacturing, Westacott said. But I can say this, you wont get investment in South Australia if you cant get investment into Australia. He also says he wants energy fixed in advance but you cant fix energy without large investment and you cant get large investment if we havent got a competitive environment to invest in. King said he was disappointed with the Labor party . The leadership of the Labor party at the moment, when they were in government, gave some of the most eloquent arguments for a reduction in the tax rate, he said. Something has changed their mind.
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