Luke Howarth (Petrie, Liberal Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. Will the Prime Minister please explain to the House how a strong economy helps the government to back small business across the country? Is the Prime Minister aware of risks proposed by alternative proposals?

Scott Morrison (Cook, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I thank the member for Petrie for his question. He understands how important having a strong economy is to delivering the essential services that Australians rely on, such as the important road infrastructure which is going to get his constituents home on time to see their families. It doesn't get paid for by promises; it gets paid by for a strong economy and a government that is bringing the budget back into balance.

As I announced earlier today, our government will hand down a budget next year, and it will be a surplus. It'll be the first surplus budget since the coalition was last in government. We will be handing down a surplus budget because we promised we would stop the boats, and we have. We promised that we'd get rid of the carbon tax, and we have. We promised that we'd bring the budget back into surplus, and we will. We promised there'd be a million jobs created under a coalition government, and there have been.

Our plan for a stronger economy is working. That's why unemployment is at five per cent. That's why there are 50,000 fewer unemployed people today than there were at the last election. Our plan for a stronger economy, that guarantees Medicare, that guarantees affordable medicines, is working. A key part of that plan is our government being the strongest backer of small and family business in generations. Ours is the government that has brought forward and delivered tax cuts for small and family businesses. Those cocky individuals over there, with their swagger and arrogance, thinking they'll put the cue in the rack and just walk into government—their cockiness and arrogance is evident for all Australians to see. But what we're focused on is delivering for small and family businesses, because we know they're the ones who are driving the economy. We know they're the ones who put more than 100,000 young people in work last year—the strongest growth in youth employment on record.

There is our small business plan. We are cutting their taxes and introducing the Australian Business Securitisation Fund, which will give them access to capital and finance, along with the Australian Business Growth Fund, which will mean they don't have to go to the bank cap in hand and mortgage their house. There will be more competition, and there will be more loans available for small business so that they can get access to it.

We are simplifying employee share schemes to give more options for small business and to allow their employees to benefit more from the growth of small business. And we're going to make sure that both government and big business pay small business on time. We are taking a 30-day payment rule down to a 20-day payment rule, as a government, and we're saying to any big business that wants to do business with our government, 'You've got to pay your small business on time within 20 days.' At COAG I'll be seeking that same commitment from all the states and territories, as New South Wales has done—and we recognise that. All governments and all businesses need to pay small business on time. That's how you back small business. That's what our government is doing.