Rob Mitchell (McEwen, Australian Labor Party) Share this | Hansard source

I rise to speak on this private members' motion on small business. On this side, we recognise that Australian small businesses are doing it tough. When we came to office, inflation was racing at an upward pace. Interest rates were also screaming upwards. With Australians feeling the effects of the cost-of-living crisis and high global inflation rates, small businesses—enterprises that everyday Australians pour their heart and soul into—felt the full brunt of the economic conditions that we inherited. That's why we have put in place a range of support and funding to help our mum-and-dad local businesses.

After the largesse that was delivered through COVID, which fired inflation through the roof and left many small businesses behind, we recognise that small businesses help drive the nation's economy and that they are the heart of local communities across the country—especially for communities like ours in McEwen, where small businesses are a hub for families, friends and community groups. Small business employs millions of Australians, whether it be a 14-year-old on their first job or someone who has pursued a career with small business. We know they are the engine room of Australia's economy. That's why, in the most recent budget, the Albanese Labor government committed to helping ease the pressure on Australia's small businesses, whether through energy relief or making sure that over $640 million is going to practical, targeted support—and doing this without adding pressure that sends inflation back on the increase.

The most important thing for any small business experiencing challenges is that support and assistance is available. Across Australia, 2.5 million small businesses can access support that is focused on saving them money and time, reducing administrative burdens and making it easier for small businesses to fulfil their obligations, including a business tax cut through the $20,000 instant asset write-off. The opposition made it seem like we were moving heaven and earth. We are glad they eventually agreed to reintroduce this simple and easy cost-of-living relief for small businesses, after they slashed it in 2013. Additionally, we are extending the instant asset write-off for a further year, until June 2025. This will provide small businesses with the confidence and the ability to invest. It is estimated that, over the two years, this measure will provide $580 million in support.

The Albanese Labor government is also abolishing 457 tariffs in the largest unilateral reform in two decades. The topic of tariffs has been prevalent in the cultural zeitgeist recently. I'm sure people can understand the importance of removing nuisance tariffs, because the removal of these tariffs will cut more compliance costs for small businesses, creating better economic opportunities for Australians and making importation costs for materials cheaper. You always hear politicians talking about the quality of Australian-made things, but this government has actually been putting its money where its mouth is. We know Australia produces some of the best-quality goods and services in the world and that is why we are backing them.

Since coming to government, we have updated the Commonwealth procurement rules—changes that mean small Australian businesses are getting a bigger slice of $75 billion in contracts that we spend every year. We have set ambitious targets to make sure that 40 per cent of contracts that are up to $20 million in value go to small businesses, and 25 per cent of contracts that are worth up to $1 billion, because only an Australian Labor government will back Australian small businesses and give them the opportunities that they deserve.

Unfair contract terms are now illegal, thanks to our actions, so small businesses can negotiate fair agreements with their larger partners. The Buy Australian Plan is opening the door to more government work for more small and medium businesses by simplifying procurement procedures. Small businesses can continue to count on the Albanese Labor government to back them every step of the way. Since coming to government, we have provided two energy bill relief measures and we're continuing to build on the $650 rebate that was provided in the last financial year. This has been there to combat the near decade of the former coalition government's neglecting of the energy sector and refusing any direction, which caused great angst to those in small business. Time and time again, we hear that they're the party of small business, but they never put their money where their mouth is, only providing small businesses and hardworking Australians with platitudes and empty cheques for photo-ops.

We'll continue to keep working for small business because we actually have backgrounds. Despite the untruths that get said by those opposite, we're supporting new jobs, supporting new skills, supporting new trade, supporting new taxation and supporting the market, which are so important to keeping our small businesses growing—not empty rhetoric. (Time expired)

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