Michael McCormack (Riverina, National Party, Minister for Small Business) Share this | Hansard source

James Pearson, Chief Executive of the Australian Chamber of Commerce, said:

We look to our government and our Parliament to show leadership and make it easier, not harder, for business to get on with the job.

Andrew Conway, Chief Executive Officer of the Institute of Public Accountants, said:

Despite Labor’s opposition, we support the government proceeding with the bill and continue pragmatic negotiations to ensure it passes.

So, all of those people know that when small business is strong so too is our economy. This is something those opposite used to understand, but they now simply stand in the way. I do not get why they want to stand in the way, but I would love to see them come on board on this day of days, when they could actually get on board. I look forward to seeing the tax plan pass through parliament tomorrow. When the opposition leader, the same man who just railed against tax cuts, actually had to make decisions and actually had to stand for something—when the Labor Party was in government—he said:

Any student of Australian business and economic history since the mid-80s knows that part of Australia's success was derived through the reduction in the company tax rate. We need to be able to make life easier for Australian business, which employs two in every three Australians.

He said that. It is actually four out of five, but we will forgive him for that. When he was in government, the member for Maribyrnong also spoke about 'reducing the corporate tax rate, seeing more capital flow into our domestic economy, which will then flow onto workers in the form of higher wages, thereby improving standards of living'. That is what the member for Maribyrnong said when he was in government. I do not know why he does not back us now. After all, he does have 12,951 small businesses in his electorate. It is time he backed them, and it is time he backed the 2.1 million small businesses across the nation.

See this speech in context