Company tax cut not off table: Morrison

A company tax cut isn't off the table, despite not being included in the Turnbull government's plan to foster innovation.

"What the innovation statement does, doesn't rule in or rule out anything more broadly on the tax system," Treasurer Scott Morrison told ABC radio on Tuesday, when asked about the prospect of a company tax cut.

Mr Morrison said the statement, released on Monday, is "part A" of the government's shake-up of the tax system.