Industry Minister Ed Husic has advocated for a lower corporate tax, either via direct reduction in the company tax rate or through an economy-wide investment allowance, saying either would be easier to sell politically today given Labor has gotten wages moving again.

Mr Husic said attempts by the Coalition to lower the company tax rate late last decade, which Labor opposed, foundered “largely because people felt that where profits pre-pandemic were performing quite well and wages were stagnating, that it was really tricky to be able to have that conversation”.