Bridget McKenzie (Victoria, National Party, Minister for Regional Services) Share this | Hansard source

That's the one thing I want to stress today—that lower taxes aren't just an end unto themselves; lower taxes support more investment, higher productivity, more jobs and better wages in regional Australia. For our trade exposed industries such as agriculture and mining it means we can compete with the USA and the UK in global markets. The Liberal-National tax relief will allow regional businesses to reinvest their savings into their businesses or staff or to manage cash flow. Because we believe in and support small businesses, this government has already extended our very popular $20,000 instant asset write-off that was first introduced in 2015-16. We have cut nearly $5 billion in red tape. We've simplified the BAS, something I can remember my mum as a small-business owner spending a lot of time and money completing. We've protected small business from unfair contract terms and, importantly, we've instigated an effects test.