Key independent breaks silence on tax cuts

Key crossbench senator Tim Storer has broken his silence on why he's holding out on supporting company tax cuts, saying he wants wider taxation reform.

The government is yet to convince Senator Storer and fellow independent Derryn Hinch to back cutting the corporate tax rate to 25 per cent, forcing legislation to be shelved until May.

"I have doubts that the decision to reduce company tax for all companies is prudent to undertake in the face of Australia's budget deficit and debt ," Senator Storer told parliament on Wednesday.