James McGrath (Queensland, Liberal National Party) Share this | Hansard source

I will certainly come back to talking about the budget and talking about some of the wonderful measures that will help small businesses in Australia recover from six years of Labor government. In particular, I want to talk about the tax cut that small businesses are going to receive—a 1½ percent tax cut. I think that is fantastic for small businesses. I hope that those opposite in the Labor Party do not oppose this wonderful tax cut. The Liberal Party and the National Party are the parties of lower taxes, and we should be proud of that. Through you, Mr Deputy President, I would love the Labor Party senators to come across and support the lowering of taxes for small businesses.

Also, I want to talk about the ability to deduct assets up to $20,000 from 7.30pm last night. I have a lot of friends in small business and I know that already, last night and today, they have been out looking at what they are going to buy. I think that is a wonderful boost for the economy—in terms of what small businesses can buy, products up to $20,000, to push and grow the economy. I hope that those opposite will also support that. It is a wonderful measure for small businesses in terms of what small businesses can do to grow Australia.

The other thing the budget will do is help everyday Australians to access jobs. Sadly, in some parts of Queensland youth unemployment is still too high. I think we should all come together to work out what we can do to grow the job market in Australia. There is going to be a $1.2 billion national wage subsidy pool to target long-term unemployment. I think that is fantastic. Employers will receive the subsidy from the time they are starting a job, when hiring—when training costs are greatest—rather than waiting six months or more. This will ensure wage subsidies are more effective. This includes reforms to Restart. It will make it easier for small businesses to receive government support sooner when they employ older workers. (Time expired)