Gladys Liu (Chisholm, Liberal Party) Share this | Hansard source

Today I wish to talk about several measures in the new budget that will benefit my electorate of Chisholm, Victorians and the greater Australian community. The Morrison government has carefully designed a plan to help breathe life back into the Australian economy. As a Victorian living through the lockdown, I have witnessed the severe impact COVID has had on our economy, and I can tell you with certainty that I talk about these budget measures with a strong sense of relief. This budget is for all Australians, keeping food on the table for families, people in jobs and the doors of businesses open. The Australian people stand to greatly benefit from this budget.

Soon, many hardworking Australians will begin to feel the positive effects of the Morrison government's tax relief measures. We understand that, for families to keep food on the table, it's vital that they keep more of the money that they make in their back pocket. That's why the government will deliver an additional $17.8 billion in personal income tax relief to support Australia's economic recovery. Australians are best placed to know how to spend their own money. In my own electorate of Chisholm, 74,000 taxpayers will see up to $2,745 of their hard-earned cash given back to them.

This budget isn't just about tax relief. Our government understands how tough young people have been doing it throughout COVID-19. For a young person, getting a job during the pandemic has become more and more difficult. Under the new JobMaker program, the strain of trying to secure employment will be dramatically reduced. The JobMaker hiring credit will help accelerate growth in employment during the recovery, by giving businesses incentives to take on additional employees between the ages of 16 and 35. It is estimated that the JobMaker hiring credit will support around 450,000 positions for young Australians.

The Morrison government understands that the solution for getting Australians back into the workforce needs to be multifaceted. It is for this reason that the JobMaker program emphasises skills development. The government's commitment to JobMaker will support getting people into jobs and ensure that Australians have the right skills for the jobs of the future. This means supporting up to 100,000 new apprenticeships and traineeships through an additional $1.2 billion investment into the Boosting Apprenticeships Commencements wage subsidy; investing $252 million over two years to support the delivery of 50,000 higher education short courses in areas of teaching, health, information technology, science and agriculture; and giving more Australians the opportunity to gain a university degree in 2021 by supporting the delivery of 30,000 additional university places.

The Morrison government is committed to ensuring that Australians are job ready, with jobs waiting for them when they complete their training. The coalition government recognises that, for women in the workplace, it hasn't always been easy. So, in addition to the JobMaker credit and the skills development programs, this budget supports women by providing over $240 million in funding, building on the government's ongoing commitment to deliver for women. But it doesn't stop there. Supporting women in STEM study and STEM skills jobs is a priority. That's why the Morrison government is providing $25 million to assist women through STEM industry cadetships or advanced apprenticeships whilst also expanding the Women in STEM and Entrepreneurship program over two years from 2022-23. These are just the highlights of a range of commitments and policies that we have carefully tailored to the task of supporting Australian women in the workforce.

It's not just individuals but Chisholm businesses that stand to benefit from this budget. Our local businesses have been hit hard by COVID-19. Health restrictions in Victoria have forced many shops and business premises to close their doors or reduce capacity. Meanwhile the bills have continued to rack up. There is no doubt that businesses are up against it due to the COVID recession, but the Morrison government is committed to giving them a fighting chance. This year the cash flow boost has already delivered more than $28 billion in support to keep 800,000 Australian small and medium-sized businesses afloat. The initiative of the JobKeeper program has also cushioned the blow of lockdown restrictions, providing a $101 billion lifeline and helping businesses to maintain the crucial connection with their employees. Thanks to JobKeeper so many Chisholm businesses have survived and are poised to fire again when restrictions are eased.

Our economic recovery plan for Australia presented in this year's budget delivers several further important measures that will bolster the engine room of the Australian economy, which is the private sector. Firstly, we're unlocking investment. Over 99 per cent of Chisholm and Australian businesses will be able to write off the full value of any eligible asset they purchase for their business, whether it's the manufacturer expanding their production line, a sole trader purchasing a car to help them deliver their wares or an entrepreneur working from home investing in new tech. This write-off will give businesses the kick-start they need to thrive post COVID. It will also create tens of thousands of jobs. This is a win for every sector of our economy, but the small businesses that buy, sell, deliver and install the purchased assets will really benefit.

Secondly, let's talk about manufacturing. Manufacturing employs around 860,000 Australians, including around 4,000 workers in my electorate of Chisholm. It is the key to our economic future. Australian manufacturers stepped up during the pandemic and now the Morrison government is backing them to create jobs and drive our economic recovery. Our $1.5 billion targeted Modern Manufacturing Strategy will help Chisholm manufacturers to scale up and take on the world. It will assist them to seize market growth opportunities in our national manufacturing priority areas of food and beverages, resource technology, medical products, recycling and clean energy, defence industry and space industry. This is great news not just for Chisholm manufacturers but for the whole nation. World-class manufacturing will drive our economic recovery and deliver a prosperous future for Australians.

On top of this we are: helping businesses to hire young enthusiastic workers, with our JobMaker hiring credit; reducing the cost and time it takes businesses to access credit; reforming insolvency laws to support business recovery; and expanding access to small business tax concessions to reduce pressures on businesses and allow them to invest in the future. It was suggested by a member of the opposition in the House of Representatives yesterday that each budget reflects the values of the government that hands it down. I wholeheartedly agree. The coalition government is the party of small business. It's the party of business in general I would say. This budget proves it. The private sector, as I mentioned previously, is the engine room—

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