It’s one of the few bits of Liberal economic policy left in the budget – and judging by the pathetic way it’s being sold to the public, the government seems almost embarrassed by it. Apart from the incompetent manner of the reluctant revelation of its extra year adding another $16 billion to the bill, the only thing wrong with the $65 billion cost to the revenue (spread over 10 years) of the dragged-out five per cent gradual reduction in company tax is that the cost ought to be much higher.