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

I thank Senator Bragg for the question. Certainly with the release of today's national accounts we continue to see the resilience of the Australian economy. Since the onset of the COVID-19 pandemic, the coalition government have been focused on protecting the lives and livelihoods of Australians. As I've said in this place before, and certainly as the former small business minister, small businesses continue to do it tough. Many are in and out of lockdown. We just need to look to New South Wales, Victoria and here now in the ACT. This of course continues to create uncertainty for them.

That is why, in terms of the policies we as a government are putting in place, we provided in the budget this year an additional $20.7 billion in tax relief to businesses over the next four years. This includes the extension of the immediate expensing measure, and that is helping around 99 per cent of businesses in Australia to reinvest back into their businesses. As Senator Bragg knows, we as a government understand that there are some businesses that have that capacity to reinvest. We want those businesses to be able to access government policy to do exactly that: prosper, grow, invest in their business and create more jobs for Australians.

But we also recognise that many businesses continue to face uncertainty, in particular in terms of lockdowns. That is why we have worked with the states and the territories, through the national cabinet, to provide temporary, targeted grants to small and family businesses to assist them to get through the lockdowns and to assist them in relation to the impacts of the lockdowns. We've gone further in our policies by expanding our small and medium-size business loan scheme, and certainly this has been appreciated by the business community. (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Bragg, a supplementary question?

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

The business investment numbers for the June quarter showed that business investment was actually up by 4.4 per cent. Importantly, non-mining investment was up by six per cent, and it's up by 15 per cent for the year. This is the strongest growth in non-mining investment in more than 13 years. That is a good thing for this sector. The significant increase is a result of our government's measures to incentivise businesses, even during these challenging times, to, again, invest back into themselves through the immediate expensing measure.

If you look at order books across Australia, they're actually filling up. Again, that is a good thing for those businesses who have that capacity to invest. They're replacing old equipment with new equipment, utilising the government's policies. This assists in their efficiency and ultimately their productivity. (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Bragg, a final supplementary question?

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

The national plan is an agreement of national cabinet—the Commonwealth government and all states and territories. This is our pathway forward in learning to live with COVID-19 and at the same time get back to the freedoms we've given up in so many instances to combat COVID-19. The national plan—when you talk to businesses and in particular small businesses around Australia—sends them that message of hope. They know there is now a clear plan to move through various stages. It gives them that hope that there is light at the end of the tunnel. This is giving businesses the confidence they need. Obviously part of that national plan is increasing vaccination rates across Australia. In the last 14 days we've seen over 3.7 million vaccinations across our nation. That is a good thing, and Australians should be commended for that.