Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I thank Senator Bushby for that very important question. The government is backing businesses across Australia to strengthen growth and to create more and better jobs. That is why, of course, on coming into government we worked hard to remove that lead which Labor inappropriately put into businesses' saddlebags, the carbon tax and the mining tax, which of course we removed. That is why we are reducing red tape costs for business—so far by about $2 billion a year. That is why we have delivered tax cuts for small business, and of course we are having a conversation right now about how our tax system could be made more growth friendly moving forward. And that is, of course, why we are working so hard to help Australian exporting businesses to get better access and more competitive access to key markets in our region: China, South Korea and Japan. Of course, the Minister for Trade and Investment, Mr Robb, is working very hard to get further access to other markets, like India, Europe and so on.

That is also why we are working so hard to invest in a very ambitious infrastructure investment program, taking advantage of the current comparative downturn in the construction industry to build productivity-enhancing economic infrastructure now, when the cost of construction is lower than it would have been in the past and is likely to be in the future. Of course, we are pursuing competition reform, focusing on making sure that, across Australia, consumers and business can have the advantage of better policy settings moving forward. Very soon the Minister for Industry, Innovation and Science, Minister Pyne, together with the Prime Minister, will be releasing an innovation package which will help to strengthen economic growth moving forward.

On this side of the chamber, we understand that for Australia to be the most successful we can be we need private sector growth. We need businesses across Australia to be the most successful they can be, and that is what we continue to work on. (Time expired)