Ross Vasta (Bonner, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Small Business. Will the minister inform the House of how the repeal of the carbon tax is benefiting small businesses and consumers in my electorate of Bonner and elsewhere?

Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

I want to thank the member for Bonner for his question and for hosting me in his electorate last week. Scrapping the carbon tax is an important part of the government's Economic Action Strategy and of our plan for a strong and prosperous economy and a safe and secure Australia. We are seeing the benefits of scrapping the carbon tax starting to filter through. We have seen the most substantial reduction in the price of electricity since records were collected reported this week as a result of scrapping the carbon tax. To give people an idea of this significant achievement, it was in 1980 that these numbers started to be collected. Some people might remember that as the era of big shoulder pads, big perms and the big style statement of the linen pastel jacket. Not since then have we seen a reduction of this size in our electricity bills.

On a serious note, these are serious savings. In Queensland, householders will see up to a 9.4 per cent reduction in their power bills. For small businesses it is up to 9.1 per cent. For commercial and industrial consumers, there is up to a 15 per cent saving on their electricity bills. I was with the member for Bonner last week in his electorate and pleased to partner with him on a small business forum. It was great to hear feedback from those small businesses. They know the member for Bonner and everyone on this side of the House has been working hard to deliver the election commitment of scrapping the carbon tax and ensuring the savings are passed through. They all know that if that side of the House, Labor and Mr Shorten's team, had their way they would reintroduce the carbon tax and see price increases burdening their households and their businesses again.

Terry, who runs the Springfield Lakes IGA, shared with us how the removal of the carbon tax is already saving his business around $700 a month. That is over $8,000 a year of cost savings on energy alone. Elsewhere other major retailers are passing through those savings. This is what we promised to do; this is exactly what we have done. Australian consumers and small businesses are experiencing the benefits. They are seeing this largest reduction in electricity prices delivered to them. It has been a really positive week for Australian small businesses—proof that the abolition of the carbon tax means delivering real benefits for them. The red-tape reductions are delivering back time and reducing compliance costs. The changes we have announced to employee share ownership schemes; the focusing of EFIC to better support our small to medium-sized enterprises and the announcement of ASBAS funding—what a really positive week for small business. It is another example that the Abbott government is working as hard for the success of Australian small businesses as the people working in those businesses are. It is a great week for small businesses.