Craig Emerson (Rankin, Australian Labor Party, Minister Assisting the Finance Minister on Deregulation) Share this | Hansard source

The member for Moncrieff, I think. The May budget provides more than half a billion dollars in extra incentives and support for small business and independent contractors. Small business incentives are being boosted by the 50 per cent small business tax break. That small business tax break is being promoted in advertisements. This is an advertisement from Toyota, and other car manufacturers in Australia—Holden and Ford—are all saying that this small business tax break is great for small business; it is great for the automotive industry. Indeed, on television Toyota has described this small business tax break as fantastic. It is a fantastic tax break.

That is just one of the benefits in the budget for small business. This budget and the economic stimulus package incorporated in it have 70 per cent of the spending on nation-building infrastructure, including the biggest school modernisation program in Australia’s history. What does that mean for our tradies? What does it mean for the small businesses who supply the tradies and who supply the independent contractors? It is good news for tradies. It is a tradies package—that is what we call it. By around this time next year there will be 35,000 construction sites around Australia with small businesses, independent contractors and tradies working on those construction sites.

In his budget reply, the opposition leader refused to indicate how the coalition would bring down a smaller deficit and have a lower debt. He had the opportunity to do so, but what he did instead was reaffirmed the coalition’s six-point small business plan, which Malcolm Turnbull calls ‘our six-point action plan for small business’. Two of the initiatives in that cost another $6.2 billion. Instead of nominating a lower deficit and a lower debt figure, the opposition leader has added $6.2 billion to the debt. So what is the opposition leader’s position on debt? It is pretty hard to find out. He was asked this direct question: ‘What does the coalition regard as an acceptable level of debt?’ The opposition leader said: ‘Well, it’s not a question of a number.’ It is not a question of a number, but whatever the number is, he is going to add $6.2 billion to it.

The opposition leader has complained about the government’s economic policies, the stimulus packages, the tradies plan and indeed about the Prime Minister. He said of the Prime Minister: ‘He is not helping our economy. He hasn’t created a job—not one job. He hasn’t stopped the economy going backwards.’ He hasn’t stopped the economy going backwards? What do the national accounts show today? The national accounts show the economy going forward, and it is because of the economic stimulus package and the economic strategy of this government that the economy is going forward. Indeed, the Treasury estimates that if it were not for those stimulus payments the Australian economy would have contracted in the March quarter. The Prime Minister is ensuring that the economy goes forward. The opposition leader says that he has not stopped the economy going backward. Wrong.

The opposition leader also said that the Prime Minister has not created a job. Who is he at odds with here? Everyone on this side of the parliament, because the stimulus package has created jobs. He is not at odds with everyone on this side; he is at odds with the shadow Treasurer, who was asked this today: ‘So, Joe, are you saying—

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