Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

Thank you, Mr Speaker. The concerns of business and the pace of business in Australian society is of immense importance. Of course, business is a very significant employer in our economy. The government wants to support business and we have supported business very strongly, not just during the global recession, but also by putting in place measures which will assist business. We understand that, in our two-speed or patchwork economy, not everyone in business is doing well.

We set out over a year ago to make sure that we put in place a series of initiatives which would assist business. The first one was a big tax cut or a significant tax for small business via the $5,000 instant asset write-off and our proposals to bring down the corporate rate of tax over time. They are opposing the revenue source that will provide that advantage for Australian business. They ought to be acutely embarrassed because they have a view that the mining industry already pays too much tax and that small business and the rest of business should not get a tax cut. I think they are acutely embarrassed by that.

As we go forward in designing an emissions trading scheme we are acutely aware that we have to get the settings right and acutely aware that what we must do for our country is to support growth in our economy. That is what we are doing as we consult with business, as we consult with the community and as we work through the multiparty committee. We are doing all of those things. Of course, those opposite just want to promote a scare campaign. We will conclude the details of an emissions trading scheme as soon as we can, and we will go out there and vigorously have a debate about who is going to support our economy, set us up for the future, create the jobs of the future, get the investment in renewable energy and make sure we protect this planet, this country, for our children and our grandchildren.

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