Company profits surge to record highs as worker wages go backwards

By Eryk Bagshaw
Updated February 28 2017 - 5:13pm, first published February 27 2017 - 6:34pm
Prime Minister Malcolm Turnbull says the company tax cut is key to the government's agenda. Photo: Alex Ellinghausen
Prime Minister Malcolm Turnbull says the company tax cut is key to the government's agenda. Photo: Alex Ellinghausen
Opposition employment spokesman Brendan O'Connor.   Photo: Alex Ellinghausen
Opposition employment spokesman Brendan O'Connor. Photo: Alex Ellinghausen

Company profits have surged to record highs at the same time wages suffered their sharpest decline in eight years, new figures show, as the Turnbull government prepares to argue the case on Tuesday for a $50 billion company tax cut.

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