Julie Collins (Franklin, Australian Labor Party, Minister for Small Business) | Hansard source

I do want to thank our terrific member for Bennelong for that important question, because he understands that small businesses are important to our nation's economy. Indeed, they're at the heart of the nation's economy and now contribute over half-a-trillion dollars to the economy each and every year. They're also at the heart of the government's decision-making. That's why, from today, 1 July, we are providing relief for small businesses. As of today, we've abolished 457 nuisance tariffs, cutting compliance costs, reducing red tape, boosting productivity and making it easier for businesses to do business. We're extending the $20,000 instant asset write-off, making it easier for small businesses to invest and grow. This is an extension of the support that passed the parliament last week for the last financial year. Of course, those opposite delayed this important support for small businesses. They dragged it out until the last minute and caused uncertainty for small businesses. After months of delay, I certainly hope that they're quicker with this $20,000 instant asset write-off extension. It's the certainty, of course, that Labor is providing with our $640 million support for small businesses as part of the budget. It's practical and targeted support, all laid out in our small business budget statement.

Of course, part of that is energy bill relief. We know, of course, that energy bill relief is being rolled out to households, but it's also being rolled out to small businesses, as it was last year, of course, with up to $650 for each small business, which, of course, those opposite voted against. They voted against higher energy prices for small business last year, and this year, we're providing $325 for around a million small businesses around the country in energy bill relief. Providing energy bill relief and a renewable energy future made in Australia is, of course, how you deliver real cost-of-living relief for small businesses—not by pushing up energy prices with nuclear reactors. Those opposite voted against the energy bill relief, as I said, and now, of course, they want to push up small businesses' power prices with nuclear reactors. They want to actually make the energy bills of small businesses go nuclear.

But small businesses are smart. They're innovative. But they do understand about nuclear power. They understand that it's too expensive and that it will take too long. Of course, our government will continue to support small businesses, and we're doing that with the energy bill relief, we're doing it with the instant asset write-off and, importantly, we're also providing an extension of mental health and financial counselling support of around $10 million for small businesses. We of course are legislating payment times that hopefully will be supported in the Senate this week, improving payment times of big businesses to small business.

See this speech in context