Michaelia Cash (WA, Liberal Party, Minister for Employment, Skills, Small and Family Business) Share this | Hansard source

I thank Senator McGrath for his question. Senator McGrath, as you'd be aware, small and family businesses are the backbone of the Australian economy, and that is why the Morrison government backs them every step of the way. Certainly, they have been greatly impacted by COVID-19. But that is also why the budget in 2020-21 is a budget that firmly invests in our small businesses in Australia.

Our $74 billion JobMaker plan puts small and family businesses at the heart of our economic recovery because they are the job makers in this country. As a government, we are continuing to put in place incentives for small businesses to prosper, grow and create more jobs for Australians; programs to help them to innovate, because COVID-19 has shown small businesses that they must have the ability to innovate to survive; and, of course, reforms to make it easier for small businesses to do business.

We're also incentivising small businesses to invest and employ through investments that minimise risk. We've implemented temporary full expensing and temporary loss carry-back. We've also put in place wage subsidies, because we want small businesses out there to be able to bring on new Australians into the workforce. We've put in place around $5.2 billion in wage subsidies, including helping small businesses to take on their first apprentice, which is so important, or, alternatively, to give a young person the chance to return to the workforce. Our extension of the small-business tax concessions to around 20,000 small businesses will also remove disincentives for them to invest in training in their current workforce.

As I've said, small businesses are the backbone of the Australian economy. The Morrison government will always back them, every step of the way.