Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thought that would get them going, and it did!—of the $5,000 tax break affecting 2.4 million small businesses and, for the 30 per cent of small businesses that are incorporated, in addition to that the reduction of their rate to 28c. That is the second arm of reform.

The third is the long-term funding of infrastructure. Those opposite say: ‘Where do we fund our railroad and ports? Where do we ensure that the key economic infrastructure of Australia is funded and laid out to underpin the next level of economic growth for Australia?’ What we are doing through this tax reform is building a $5.6 billion national investment fund for the infrastructure needs of the states, in particular the resource states. So what we are proposing, to take the current strength of this economy further, is, first and foremost, bringing down the tax rate for all companies, in particular to provide a tax break for small business; second, boosting the retirement income savings of all working Australians; and, third, funding the future infrastructure needs for our roads, rail and ports for the future—building on the strength we currently have, setting up Australia for long-term strong economic growth.

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