Bill Shorten has today made a captain’s call announcing Labor will impose yet another giant, job-destroying tax on Australian businesses, workers and the economy by ripping out legislated business tax cuts.

Not only has Labor committed to ripping the Turnbull Government’s personal income tax cut away from 9 million Australians, they will now hit 20,000 businesses employing 1.5 million Australians with a tax sledgehammer.

Labor has confirmed yet again they are for higher taxes on our economy, including small and medium sized businesses.

Labor used to talk about climbing the ladder of opportunity. Now it’s about sliding down the snake of envy.

That’s Labor’s snakes and ladders approach to tax. Under Labor, Australians will pay more, either directly in higher taxes, or from the suffocation of our economy through their more than $200 billion in already announced higher taxes.

Businesses with turnovers of between $10 million and $50 million are not multinationals. They are not the big end of town. In fact, by opposing making business taxes more competitive for Australian businesses, Bill Shorten is backing the big end of town in Manhattan, San Francisco, Houston, Chicago, Paris, Frankfurt, London, Singapore, Hong Kong, Tokyo and Seoul.

This announcement today proves the lie of Labor on tax. They’re hitting everyone.

The fact they cannot even bring themselves to guarantee the tax relief already legislated for small businesses with turnovers of up to $10 million tells Australians everything they need to know.

Labor wants to roll back the tax relief we have legislated for small and medium sized businesses and for those on an average full-time wage.

That’s $70 billion in roll backs of personal tax relief and around $20 billion in tax hikes which will make Australian businesses less competitive.