Senate debates

Tuesday, 26 June 2018

Questions without Notice

Taxation

2:36 pm

Photo of Mathias CormannMathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

That's the beautiful thing about competition. If big business is not prepared to invest more, there's opportunity for small business. On this side of the chamber we want smaller businesses to become bigger businesses. We understand that every big business today is a small business of yesteryear, and that that is actually the way a successful economy works: it provides the incentive for small businesses to become bigger and bigger businesses.

Let me read you another important quote:

… lowering the corporate rate for smaller businesses only (as the Greens propose) creates an artificial incentive for Australian businesses to downsize.

In worse case scenarios some businesses might actually lay people off to get smaller—

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