Jerome Laxale (Bennelong, Australian Labor Party) Share this | Hansard source

I stand as a member that's been involved with a small business all my life, with regard to the comment from the former member there. I know from experience that small businesses are the beating heart of Australia's economy and the backbone of our local communities: 2½ million small businesses across the country employ more than five million Australians, contributing over $500 billion annually to our economy.

In Bennelong, just like across the country, small businesses bring people to our town centres and are a real part of our community. They create jobs for local families, they sponsor our community sports clubs and they help make our high streets thriving, diverse and places we all want to go, see and visit. Across Bennelong, there are hundreds of small businesses employing countless locals, each contributing to the fabric of our community. Whether it's the family that has owned a shop for generations or that new entrepreneur taking their first steps in business, our small businesses are at the heart of what makes Bennelong such a dynamic and connected community.

As their representative, someone with a long and proud history in small business, I'm pleased to be a part of a government that values small businesses and their owners. I understand the unique challenges of small business, and I'm committed to ensuring that the government delivers support they need to thrive, not only in Bennelong but across the nation. It's not about headlines or broad economic platitudes; our support is about addressing the real issues that confront small-business owners.

I know that they're doing it tough right now. Rising costs, sticky inflation, supply chain disruptions and evolving consumer habits have created new pressures for business owners, many of whom are still recovering from the economic shock waves of the pandemic. These challenges are real, and they are significant. That's why our government is stepping up to provide practical and targeted support that helps small businesses not just to weather the storm but to build for the future. Our approach prioritises resilience, innovation and fairness, ensuring that small-business owners have the tools they need to thrive. We do that in a number of ways.

We've extended the $20,000 instant asset write-off until June 2025, which is an initiative that allows businesses to immediately deduct the cost of equipment and tools, freeing up cash flow and enabling them to grow. In Bennelong, this means that local cafes can upgrade their equipment, tradies can invest in better tools and startups can purchase the technology they need to compete and to grow. These investments ripple through our local economy whilst creating jobs and opportunities for our community.

We also understand the burden of rising electricity costs. That's why we've delivered targeted energy bill relief to nearly one million small businesses: $325 this financial year and $650 the year before that. That reflects our commitment to easing cost-of-living pressures where we can. We've also rolled out really important efficiency grants to small and medium businesses to invest in renewable energy technology. Systems that help use less power for refrigeration and allow businesses to invest in solar and battery technology were rolled out and were incredibly successful, because we want businesses to have confidence in investing in this new technology to cut their bills. This is all about resilience.

Further, we've invested $60 million in cybersecurity and digital transformation programs. You just need to look at our recent announcement on banning debit payment surcharges, made off the back of the fee-free digital campaign I ran, just to see how much small businesses matter to this government. From day one, I acknowledged that small business costs also need to be addressed alongside the need of consumers to have a fee-free digital option at the checkout. It was so great, then, to hear both the Prime Minister and Treasurer acknowledge this exact view in their October announcement. They said that surcharging can only be addressed if the RBA addresses the cost to small business, because we know that digital payment costs are severe for small businesses and are unfairly targeted at small businesses.

There is much more to be said about how this government is supporting them—too much to list in one five-minute speech. But I just want to say this to local businesses in Bennelong: I spent my whole life in and around small business. I know how great they can be and I know the strain that they can place on owners and their families. In my time as an elected official and now in this place, I have done all I can to ensure small businesses' perspectives are aired in government and around decision-makers, and that's something I will continue to do.

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