Glenn Sterle (WA, Australian Labor Party) | Link to this | Hansard source

My question is to the Minister representing the Minister for Small Business, Senator Ayres. The Albanese Labor government is backing Australians through a range of measures designed to support Australian small businesses. Last month, the Treasurer announced more than $3.8 billion in new, practical support to boost Australian small business. Minister, how is the government helping small business grow, create jobs and seize new opportunities?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) | Link to this | Hansard source

Thanks, Senator Sterle, for that question. As somebody who's worked in the trucking industry for a long time in his life, full of Australian small businesses, he's the right person to ask this important question. We know that a strong economy is only possible when you have strong small businesses, and that great Western Australian Albanese government minister Anne Aly is making sure we do exactly that.

Every year, 2.7 million businesses employ 5.2 million Australians and contribute $623 billion to the Australian economy. That's why we are delivering more than $3.8 billion in new measures that provide tax relief and support small businesses' resilience and encourage their growth. From 1 July, we are making permanent the $20,000 instant asset write-off and also the two-year loss carry back—both of those measures unwound by the coalition when they were in office. We're delivering tax cuts for 1.5 million sole traders, including the new $250 working Australians tax offset, and delivering $8 billion to support the mental health and financial wellbeing of small business owners.

That's not all. We're expanding tax incentives for venture capital, to unlock more capital for expanding businesses; refocusing the research and development tax incentive, to get more impact out of Australian ideas in small businesses; and providing free access to mandatory standards that will save some businesses over $1,600 a year.

There are 7½ thousand more manufacturing businesses in the economy. Exports in manufacturing in my area are up by 43 per cent. Investment in manufacturing is up by 35 per cent. This is a government that's delivering for small business every day of the week. (Time expired)

Sue Lines (President) | Link to this | Hansard source

Senator Sterle, first supplementary?

Glenn Sterle (WA, Australian Labor Party) | Link to this | Hansard source

Small-business owners are located right across the country, from those that work in Australian agriculture to those in rural towns and in our big cities. Can the minister outline how the Albanese Labor government's support for small business is helping regional communities create jobs and drive economic growth?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) | Link to this | Hansard source

Regional Australia, of course, is home to sole traders, gig workers and small businesses. Many of Australia's farmers and agricultural workers are also small-business owners. And that part of the economy in regional Australia, more than any other part of the economy, has felt the impact of this year's global supply shocks.

The Albanese government has worked hard to secure the fertiliser and the fuel that they need. In my portfolio area, the economic resilience plan, the National Reconstruction Fund has lent hundreds of millions of dollars to Australian small businesses, particularly in freight and logistics. The Albanese government is securing fertiliser and fuel. Today, Phosphate Hill has announced that it has reached the end of its sale process. The Albanese government and the Crisafulli government are working together to deliver for the 500 workers who are— (Time expired)

Sue Lines (President) | Link to this | Hansard source

Senator Sterle, second supplementary?

Glenn Sterle (WA, Australian Labor Party) | Link to this | Hansard source

Through our tax relief, fairer competition and cutting red tape, the Albanese Labor government is boosting productivity and helping Australian small businesses stay strong, adapt and grow. This is alongside our tax cuts for every Australian, of which there have now been five under this government. Why has the government taken this approach to support Australia's small business sector?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) | Link to this | Hansard source

Thank you, Senator Sterle. Of course, tax cuts benefit Australian workers and they benefit small business too. Earlier this week, Senator Hume said that Labor's tax cuts—of which there have been five—were 'egregious'. She said what she said, no matter what she wishes she said. She said the Liberals' quiet part out loud.

Sue Lines (President) | Link to this | Hansard source

Senator Scarr?

Paul Scarr (Queensland, Liberal Party) | Link to this | Hansard source

A point of order on direct relevance. Senator Sterle asked a sensible question—

Sue Lines (President) | Link to this | Hansard source

Thank you—

Paul Scarr (Queensland, Liberal Party) | Link to this | Hansard source

and it's become a personal attack on one of our colleagues.

Sue Lines (President) | Link to this | Hansard source

Senator Scarr, we don't need the running commentary. The minister is being relevant to the question; I'll continue to listen carefully and, if he isn't, I will draw him back to the question. Minister Ayres, please continue.

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) | Link to this | Hansard source

They don't like it when Australians earn more and they don't like it when they keep more of what they earn. I wasn't sure what 'egregious' meant. I was sure it must have meant 'good'! So I had a look at it in the dictionary, and I can tell you the etymology of 'egregious'. It is used by Australians 0.7 times for every million words that are issued. You're just so lucky, Liberals! You're just so lucky that Senator Hume chose to say—

Sue Lines (President) | Link to this | Hansard source

Senator Scarr?

Paul Scarr (Queensland, Liberal Party) | Link to this | Hansard source

President, again, the minister is being egregious, in terms of his response to this question!

Sue Lines (President) | Link to this | Hansard source

Thank you, Senator Scarr. Thank you, Minister. Please continue.

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) | Link to this | Hansard source

Well, that's the word that she chose to use to describe tax cuts for every working Australian and support for every Australian small business. (Time expired)

Sue Lines (President) | Link to this | Hansard source

I advise the chamber that Senator Thorpe has passed her question to the Greens.