Michael Sukkar (Deakin, Liberal Party) Share this | Link to this | Hansard source

My question is for the

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

I would like to thank the member for Deakin for his first question to me as

In fact, small business in Australia is part of the engine room of our economy. There are more than two million small businesses, representing 97 per cent of all businesses in Australia. Those small businesses employ around 4.5 million people and they make a contribution to our economy of $340 billion.

But there are more opportunities to expand the markets for these small businesses and family owned businesses. The China-Australia Free Trade Agreement is a huge opportunity for these small businesses. Under this agreement, 95 per cent of all of our exports to China will be tariff-free at the conclusion of the implementation of the China-Australia Free Trade Agreement. Services will also benefit—financial and professional services, law, health, education, construction and engineering. These and others will have expanded markets into China.

Opposition Members:

Opposition members interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Perth.

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

China, of course, has one of the fastest growing economies and has the second-largest economy. Over the next decade the middle class in China will grow to around 500 million. This means that companies in the member for Deakin's electorate, companies like Timbermate, which manufactures special putty fillers and wood fillers, will benefit from the China-Australia Free Trade Agreement, because four years after the implementation of the China-Australia Free Trade Agreement the nine per cent tariff on those goods will be eliminated. This will expand their markets and grow their business. It will mean that they can employ more people.

But are there any risks? Indeed, Member for Deakin, there are. Those risks are represented by those opposite—those people who refuse to allow expanded opportunities for small businesses, those who refuse to allow our economy to grow as a result of those expanded opportunities, and refuse more jobs. This is, I think, a national disgrace.

Opposition members interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Perth is warned.

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Small Business) Share this | Link to this | Hansard source

The Leader of the Opposition, instead of listening to his union mates should instead do what I am doing, which is standing up for small business.