The government has batted away questions about whether a deal has been struck with One Nation on its stalled business tax cuts, hours after shelving the tax plan until later this year.

During testy exchanges in Parliament on Thursday, Malcolm Turnbull deflected four separate questions from Labour on whether the Coalition had reached a deal with Pauline Hanson for her party’s two Senate votes.

The Coalition needs another four crossbench votes before it can follow through on plans to slash the corporate tax rate for all businesses from 30 per cent to 25 per cent.

After flip-flopping in her stance several times during the week, Senator Hanson said on Wednesday that efforts by Finance Minister Mathias Cormann to win her support had failed to get her “over the line.”

Earlier on Wednesday, the One Nation leader had hinted that a new coal-fired power station and a crackdown on tax avoidance by multinationals could potentially sway her to the government’s side.

Pressed by Bill Shorten and Shadow Treasurer Chris Bowen to clarify if there was an agreement with One Nation, the Prime Minister turned attention back on Labor’s pledge to reverse other already-legislated business tax cuts.

“Right around the country Australians will know that the Leader of the Opposition and the Labor Party stand for higher taxes. They stand for higher taxes on business, large and small,” Mr Turnbull said during question time.

“I look forward to the Leader of the Opposition’s tip-toeing through all the land mines he’s created around Australia.”

Repeating Labor’s charge that the government was supporting a giveaway to the “top end of town,” deputy Labor leader Tanya Plibersek contrasted the government’s support for tax cuts for big business with recent cuts in penalty rates.

“Why does this PM support cutting the penalty rates of over 11,000 working Australians in Longman by up to $77 a week, while he’s giving an $80 billion handout to big business and the top end of town?” she said. 

“Is the PM telling these hard-working Australians who are having their penalty rates cut again this Sunday to get a better job?”

Earlier, Senator Cormann conceded the government had not secured the necessary support to get its full tax package through the Senate, pledging to reintroduce the bill after five byelections next month.

The Finance Minister refused to be drawn on whether Senator Hanson had indicated she could support the government’s plan after the Longman byelection in Queensland, where One Nation is running a candidate.