Michael McCormack (Riverina, National Party, Minister for Small Business) Share this | Hansard source

I thank the member for Wide Bay for his question. I acknowledge the great role that he has played since taking over from another fine former member for Wide Bay, Warren Truss, who served that electorate so well, served the National Party so well and served this parliament so well. I also acknowledge the work that the current member for Wide Bay has done for the 13,200 small businesses in his electorate. He has hit the ground running. Next Wednesday he is attending Roz and Michael White's IGA store opening at Peregian Beach. That is an example of a fine small business employing Australians.

Small businesses in Australia—the 2.1 million of them—employ 4.7 million Australians and contribute $340 billion to the economy. They are big numbers. I have been asked about the work that this side of the House has done for small businesses. I have only one minute and 58 seconds to go, and that is a shame because it could take a long time to talk about the instant assets write-off—$20,000 for businesses to be able to invest in their companies. I could talk for a long time about the company tax rate. It has gone down to 27½ per cent, the lowest it has been since the late 1960s. That is what this side of the parliament has done—because the Liberal and National parties are the side of politics for small businesses. Hand up all those on this side of the House who have run a small business or worked in a small business? Hand up those on that side who have run a small business? There you go! That is proof positive about what our side of politics does for small business. That side of politics has never seen a small business they would not want to run a picket line in front of!

Just this morning, the latest results of an ANZ Roy Morgan survey showed that business confidence is up and consumer confidence is up. That is great. Going into the Christmas retail period, that is a tremendous thing. We are also simplifying the business activity statements. That is a great thing for small business.

And what we are doing for small business does not just cover Wide Bay. It could be a stockfeed store in Shepparton, a fish market in Mackay, a dentist in Dubbo, a cafe in Coffs Harbour—

Mr Feeney interjecting—

Or, indeed, it could be a bookstore in Batman. I note that the member for Batman has Anthony Albanese's book—I do not know what the numbers man for Labor is doing there.

Businesses across Australia are passionate and diverse. They are risk-takers. They are the lifeblood of our economy. It is probably time that Labor should acknowledge that. They are certainly the backbone of our economy. (Time expired)

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