Craig Emerson (Rankin, Australian Labor Party, Minister Assisting the Finance Minister on Deregulation) Share this | Hansard source

This is the point I was making: the shadow minister’s colleague walked into this chamber and said the kiddies will not be able to get any sand in their sandpits, in their playpits, as a result of the resource super profits tax. He might shake his head again at this one because the shadow minister for small business walked into this chamber and said the kiddies will not get their talcum powder because of the resource super profits tax. This is the absurdity of the scare campaign that has been launched by the coalition in relation to the resource super profits tax.

This is a tax reform package and at no time during the contribution of the shadow small business minister did he mention the small business tax breaks. Did he mention the fact that every one of the 2.4 million small businesses in this country would receive a capacity to write off instantly the value of any eligible asset up to the value of $5,000, which would provide a welcome cash flow boost and an incentive to invest in productive assets? All 2.4 million businesses would get that. That would be a great thing for small businesses; but who is opposing that?

The shadow small business minister and the coalition parties, especially the Liberal Party, say that they are the party of small business. They think and talk back to Sir Robert Menzies talking about the forgotten people and how the newly formed Liberal Party would represent the forgotten people, the shopkeepers and the small business owners of Australia. And what do they do? They cut their throats. They came into this chamber and said that they are going to oppose legislation that would provide a tax break for every one of those 2.4 million small businesses in Australia—that is, sole traders, partnerships and companies.

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