Rowan Ramsey (Grey, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Employment, Workforce, Skills, Small and Family Business, who is my new neighbour up here. Will the minister update the House on how the Morrison government is providing critical support for small businesses through the pandemic and why sticking to the national plan is so important to the recovery?

I have asked the wrong question. My question is to the Minister for Education and Youth. Can you please update the House on how the Morrison government is sticking to international plans for supporting students?

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

Sorry, you've asked the question. I am going to call the minister for small business. It's probably the clearest illustration that it's not a question without notice. But, anyway, maybe it is!

Stuart Robert (Fadden, Liberal Party, Minister for Employment, Workforce, Skills, Small and Family Business) Share this | Link to this | Hansard source

Can I thank the member for his question and for all the support he provides to the small and family businesses in his electorate. We have seen, not just in lockdowns right across the country but in lockdowns in the member's electorate over time as well, that many small businesses are doing it very, very tough—whether it's in the member's electorate, in members' electorates in New South Wales and Victoria, or on the Gold Coast in my electorate; we are not locked down, but 80 per cent of all trade comes from interstate. Those small business operators who, as at this morning, are now locked out of the state of Queensland are doing it tough.

It's one of the reasons the Morrison government has put in place the largest set of support for small business in our nation's history—$291 billion in direct economic support, and not just through last year's JobKeeper but our boosting the cash flow measures, and our small and medium enterprise guarantee schemes. We extended the instant asset write-off. We extended and accelerated income support. There was early release of superannuation. We've also reduced the company tax rate from 30 to 25 per cent. We've ensured the ATO can no longer pursue recovery action whilst matters are before the AAT. And, of course, we're ensuring that vital cash flow line for small business—that they're paid within 20 days by large business and government—because we know that is so important.

But we also know, as we fight towards 70 per cent and 80 per cent vaccination rates, that that becomes the opportunity, as per the national plan, for small businesses to be open, for trading to continue and to grow. That's why the national plan is so central to what we need for the economic lifeline of our small businesses. Furthermore, we've seen the business support payments currently flowing in New South Wales, with payments of between $1½ thousand and $100,000 per week, based on the level of payroll, with a maximum turnover threshold of up to $250 million, and of course up to $1,000 per week for sole traders. Further payments have been made in conjunction with every other state and territory across the country.

Today, again, the Treasurer has announced further support for the small- to medium-enterprise sector, with the expansion of eligibility for the SME Recovery Loan Scheme. As of today, under that scheme, the loans are extended to even mores SMEs. As the Treasurer said this morning, we've seen $6.2 billion of assistance on 74,000 loans. Now, with changing the criteria, we will see more and more businesses eligible. This will buy us some time. But, importantly, the best path back is sticking to the COVID national plan. The 70 per cent and 80 per cent gives certainty, and only certainly will build confidence for the small- to medium-enterprise sector of the economy to grow. (Time expired)