Goyder calls for corporate tax cut

Wesfarmers managing director Richard Goyder has called for an eventual cut in corporate taxation as a way of letting businesses stimulate the economy.

Mr Goyder told a WestBusiness Leadership Matters lunch marking Wesfarmers centenary that while the Australian rate was around 30 per cent, the OECD average was now 25 per cent.

"There does need to be a lower corporate tax in Australia in due course," he said.

He said the United Kingdom had brought its corporate rate to the low 20s at a time when the economy was under pressure.

"Businesses are the wealth creators, large and small," Mr Goyder said.

"Wesfarmers is a classic example of a small business that's become a large business and created wealth for shareholders, employees and the communities in which we operate."

Mr Goyder said businesses wanted governments which promoted stability and consistency, and did not impose unnecessary taxes and regulations.

"I want government of any persuasion to let business get on with what business is good at and having an environment that encourages that.

"We want an environment that encourages risk taking and investment and then lets us get on with things."

Wesfarmers shares closed up 31 cents at $41.56 today in a broadly firmer market.