Louise Markus (Macquarie, Liberal Party) Share this | Link to this | Hansard source

I rise today to talk about Australian owned and operated small businesses. Australians all know the fundamental importance of Australian owned small businesses. Small businesses in Australia added 36.3 per cent of industry value to the economy between 2009 and 2010. Small Australian businesses also employ nearly half of the total industry employment, at 47.2 per cent. The families in Macquarie and many others depend on revenue generated by small businesses to provide the Australian quality of life, to meet the most basic costs of living and to make sure that young Australians are able to reach their full potential.

Labor's poor management and destructive policies have seen small business start-ups fall by a staggering 95 per cent. There are now 11,000 fewer small businesses employing people than there were in 2007. The coalition, in contrast, has a plan for our economy. If elected to government, the coalition will fight tirelessly for small business and lay the groundwork for Australian owned and operated businesses to thrive and flourish. This will begin with the position of Minister for Small Business being promoted to cabinet. We will reduce red tape costs to small business by $1 billion a year.

The Leader of the Opposition announced earlier this month that, if elected, a coalition government will aim to double the existing rate of small business growth. If this can be achieved, this high rate of small business growth will mean that Australia will see more than 30,000 new small businesses introduced to our economy each year. This will increase opportunities not just for small business but also for their families and the people they employ. This will add several million jobs. Most importantly, the coalition will scrap the ineffective initiatives of this Labor government, such as the carbon tax, which have damaged the growth and competitiveness of Australian businesses. It is imperative that we seek to go for growth in Australian business. The regrowth and reinvestment of government policy and energy into small business will assure our future prosperity. (Time expired)