Michaelia Cash (WA, Liberal Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

The 2021-22 budget is continuing to support businesses to keep more of what they earn. Through measures that we are implementing, such as the temporary full expensing and the loss carry-back arrangements, we are delivering a further $20.7 billion in tax relief to Australian businesses that back themselves and invest in their future. What we also note is that the initial round of business tax incentives has been highly effective. Machinery and equipment investment has been growing at its fastest rate in seven years. What you see is that businesses who have that capacity are out there, and they're utilising the policies that the government is putting in place to back themselves and to invest back into their businesses. This means that the local cafe, the local construction company and even the local plumber have been able to utilise the policies that the Morrison government has put in place to reinvest in themselves, prosper, grow and—what we're all about—create more jobs for Australians.