Nick Xenophon signals support for tax cuts in exchange for emissions intensity scheme

Senator criticises Coalition for abandoning intensity scheme for electricity once championed by Malcolm Turnbull

The key crossbench senator Nick Xenophon has signalled publicly to the Turnbull government he will look at cutting tax for big companies if the government guarantees it will implement a bipartisan emissions intensity trading scheme in the electricity sector.

The NXT leader has been saying for months he is not inclined to support tax cuts for business with annual turnover of more than $10m but, on Monday, suggested he would come to the table if the government made a concrete offer on energy policy.