Vince Connelly (Stirling, Liberal Party) Share this | Hansard source

Let me start with some words from our PM, ScoMo, from his very first party room address after the election. The PM said to us, 'Let me touch on a point here around why Australia has voted for us—because we believe what Australians believe.' Let me touch on some of those fundamental beliefs. We believe in small government; lower taxes; the rights and freedoms of the individual; and the central importance of strong families. Those are the beliefs which shaped our policies which we took to the election and which we are now implementing.

On small government, compliance costs have been reduced for businesses, individuals and community groups by some $6 billion since 2013. This has included simplifying business activity statements for 2.7 million businesses and the doubling of the ASIC financial reporting threshold. The government will also pay up to $300 million to each state and territory that also works to cut red tape. On lower taxes, we believe that Australians should keep more of what they earn. That is why, once our reduction of tax strategy is fully implemented over five years, 94 per cent of Australians will pay no more than 30 cents in the dollar.

There are over 19½ thousand small businesses in my electorate of Stirling. As I move around the electorate, I am struck by how so many owners of these businesses comment to me that they are thankful for what this Morrison government is doing to back them, like Richard at the Stirling IGA. Richard is just getting on with the job, like his father did before him, ordering great food—they have a wonderful gourmet food section out there—employing locals and working hard. They're servicing customers and keeping customers happy. And I said to Rich, 'Mate, what's going well? What's not going well? What can I do even better as your federal member?' And Rich, in a true Aussie understated fashion said, 'Yeah, nah, it's all pretty good.' Don't get me wrong: Rich and his team work extremely hard to make a profit, but he and his staff get to keep more of what they earn, and the reason is twofold. Firstly, we've reduced the company tax rate from 30 per cent to 27.5 per cent and that is going down further again to 25 per cent. This is a historic 50-year low. These changes will benefit 3.4 million Australian small-to-medium businesses employing seven million Australians. Secondly, Rich and those like Lauren, who is also a local working for him, will take home more of what they earn because of cuts to personal income tax.

So, Rich didn't have any complaints for me, but—and I think this is important—he could have articulated an alternative. If a Labor government had been in power, Rich would have turned to me and said, 'Vince, there are some massive problems around here.' He would have said, 'My transport and electricity costs have skyrocketed because we're feeling the pain of the reckless 45 per cent emissions reduction target that's been put in place.' Rich would have said, 'My staff are taking home less of what they earn because there's been no cuts'—as were planned by the coalition—'to the company tax rate and personal income tax. And, by the way, Vince, I know it's not your fault but I have to tell you that my parents are devastated that they're not going to be able to afford Christmas presents for the kids this year because the retirees tax has absolutely slugged them.' This is what $387 billion of extra tax would look like on the ground.

I'm not heartless; I confess that there are some good people on the other side of this chamber. This is why we have some pockets of resistance, some smart people, saying, 'Let's ditch our socialist agenda. Let's get behind the Australian economy and behind Australians.' We're hearing some smart people saying, 'Let's mirror the coalition's commitment to the Paris agreement, reducing carbon emissions by 26 to 28 per cent, and scrap the retirees tax.' I welcome these sentiments. But on this side we don't need to be convinced because we are already on the side of the Australian people, we are in their corner.

Certainly we do face some global economic headwinds. But Australia is in its 29th year of economic growth and we have brought the budget back into balance for the first time in 11 years. We are delivering strong economic management, paying for essential services and letting Australians get on with what is important to them.

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