Mining magnate Gina Rinehart says Australia should follow US president Donald Trump’s lead in cutting the red tape and reducing taxes, arguing that overwhelming bureaucracy in Australia is a turn-off for foreign investors.
She said Trump was leading the way and achieving results that former president Barack Obama couldn’t.
“Obama used to say ‘yes we can’ but unfortunately he didn’t,” she told The Australian.
“Donald is most certainly a doer. In the future you’ll be able to reflect on this president as ‘yes he did’.
“When Donald says he is going to cut red tape and lower taxes and make America great again, he does it. Australia should adopt this.”
She said that the red tape currently in place in Australia “hurts investment, industry and industry development, job growth and living standards” and suggested reducing jobs in the public service and halving the corporate tax rate.
Despite the Turnbull government this month introducing the $300 million incentive for state governments to cut red tape in the federal budget, Rinehart said it was not enough.
“Most politicians are too busy playing populist short-term politics, making things difficult for businesses with increasing red tape … forgetting that it is businesses who create Australian jobs and provide the revenue for our defence, police, hospitals, elderly and roads and more, and are critical to enabling our very living standards.”
The Australian has more.
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