Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Hansard source

I want to thank the member for Fisher. He has served our nation with great distinction, as a soldier and in the parliament and as a cabinet minister. It is great to get a question from him. Twelve and a half thousand small businesses in the Fisher electorate are really thrilled by the news of this small businesses and jobs package that was announced in this budget. There is $5½ billion of encouragement, respect, incentive and recognition—the largest package of its kind in our nation's history that will energise enterprise in the electorate of Fisher.

In travelling through the electorate with the member, people shared with us stories of the difficult times under Labor—how too many of those 519,000 jobs lost under Labor were on the Sunshine Coast and what an impact it had on people's livelihoods and opportunities. The good news is things are changing. We are getting behind those enterprising men and women, and no clearer statement of that support can be found than the largest package for small business announced in this budget. The opportunity to have the lowest company tax rate in almost half a century is something small businesses have welcomed. The immediate tax deductibility for business related asset purchases up to $20,000 has been extremely well received. There are the measures that we have put in place to make sure that the unincorporated small businesses are not forgotten. Who could forget the enthusiastic advocacy of the Minister for Agriculture to make a good case, supported by consultation, to bring forward the improved accelerated asset write-off arrangements for our rural community. It is a great package and the support has been wide and has been loud.

I have just come from a briefing from the Australian Chamber of Commerce and Industry. They said how encouraging this federal government's actions are in acknowledging that small businesses are the engine room of the economy. They went on to point out how the instant asset write-off measure will help businesses grow and make capital purchases. There is some other good news. Labor has finally settled on a position. To their credit, they have put out an announcement saying that they will back the small business package, and that legislation is in this parliament. You could understand accountants being a little hesitant. They heard the Leader of the Opposition's intemperate remark about the asset write-off being 'a giveaway to start a fire sale at a second-hand car yard and Harvey Norman'. That is what they said. They had heard the member for Oxley bagging the idea of a company tax cut, giving a two-tier rate, advantaging small business. They heard all that and they were confused. So, despite all that politicking, the flip-floppery, the blah blah from Labor, we have finally got a clear statement. The legislation is in this place. Let's get it through this place in a hurry and let's see if Labor is true to its word. It is not about the backswing; it is all about the follow-through. Let's follow through and get these measures enacted.

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