Biotech says Labor's tax changes sting
A large share of the biotech sector says it is worse off under Labor's tax changes, according to reporting this week.
A large share of the biotech sector says it is worse off under Labor's tax changes, according to reporting this week.
When an industry grumbles
Tax changes always produce winners and losers, and the losers tend to be louder. Biotech is a sector governments like to be photographed supporting, so complaints from it carry a sting beyond the dollars involved.
For One Nation and other critics of the government, stories like this are useful. They feed the wider argument that Labor talks up the future while making it harder for the people trying to build it.
The government will say the changes are about fairness. The sector says they are about survival. The truth usually sits somewhere in between, but the headline goes to whoever complains loudest.
Compiled from Australian news reports.
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