Donald Trump’s tax plan may harm Australia’s economy if the government responds in the wrong way, the Australia Institute has warned. The Australia Institute’s executive director, Ben Oquist, said Trump’s tax package should not be used as justification to cut Australia’s corporate tax rate at a cost of $65bn to the budget. “The devil is in the detail of the Trump plan. So far from the Chinese investment boom draining capital from Australia the opposite happened. “If the effect posited by Treasury does exist it is not large enough to nullify the benefits to Australia of the Chinese investment boom.”

Source: The Guardian November 20, 2017 21:22 UTC