Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Hansard source

I thank the honourable member for Grey for his question and note that a number of his constituents actually came to Adelaide, where we had quite a few hundred people turn out to discuss the budget. And the budget has got a good reception—there is no doubt about that—right around the country. I have spoken to over 5,000 people in the last couple of weeks, in seven or eight different cities, and, quite clearly, the reception to the budget has been overwhelmingly positive. And why? Because it is a budget that is focused on helping to create jobs, it is a budget that is focused on opportunity, and it is a budget that does not leave anyone behind—in particular, the farmers of Australia.

As the honourable member was telling me, he spoke to a Mr Butterfield, Bill Butterfield, who is a farmer from Darke Peak in the Eyre Peninsula. Bill owns and operates Cummins mill, one of the oldest flour mills in Australia. He said: 'The budget measures are fantastic news. On the farm we will purchase water, fencing and a small vehicle, and at the mill we will be looking at a couple of small forklifts. We have had a good rain, and this budget will give us a real lift.' So there it is: Bill Butterfield endorses it, and 11,718 small businesses in the honourable member's electorate would also be endorsing it, because in this budget we are giving small business in Australia the chance to have a go, to invest in their future, whether it be through our tax cuts—a 1½ per cent cut in the company tax rate—or up to a five per cent tax discount for businesses that are unincorporated.

The Leader of the Opposition does not understand small business. They had five small business ministers in six years. So when the Leader of the Opposition said the other night that he was going to go for a five per cent company tax discount, he was leaving behind two-thirds of the small businesses in Australia, and even then his own finance spokesman did not back it up 24 hours later.

So, when we talk about tax cuts for small business, when we talk about accelerated depreciation and when we talk about a fair go for farmers, we actually back it up with real action, not just words. In our situation, what we are focused on is lifting the tide so that all boats rise, and, in particular, any small business—whether it be unincorporated, a sole trader or a partnership, or be it a company—with a turnover of less than $2 million has the opportunity to go out there and buy the plant and equipment that is going to expand the business, improve cash flow and, at the end of the day, contribute to more jobs in the economy, because ultimately that is what we are about: more jobs for everyday Australians.

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