David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

My question is to the Minister for Small and Family Business, Skills and Vocational Education, Senator Cash. How is the Liberal-National government supporting small and family businesses?

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

I thank Senator Bushby for the question. There is only one fact that the Australian people need to worry about and that is that this side of the chamber, the Liberal-National government, is the only side that will ever deliver for small and family business in Australia. Why? Because so many of us from the Liberal-National side of politics come from small business. We understand exactly what it takes to give up so much, earn your money, employ Australians and run your own business. We, the Liberal-National government, will always respect small and family business in Australia and we will continue to put in place policies to ensure that our small and family businesses are able to prosper and grow.

Small and family businesses are the engine room of the Australian economy. They provide millions of Australians with jobs and, in providing millions of Australians with jobs, those Australians are able to provide for their families. Our 3.3 million small businesses contribute hundreds of billions of dollars to our national economy. These small businesses employ in excess of five million people, or around half of the private sector workforce, and, on this side of the chamber, we are very, very proud, aren't we, colleagues, to support tax cuts for small and family businesses. We are proud to have legislated tax cuts for small and family businesses. We have legislated those tax cuts down to 27½ per cent—the lowest level in 50 years. And guess what? Our plan is to lower it even further. We will reduce it down to 25 per cent. Why? Because we are going to back small and family business in Australia every step of the way.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Bushby, a supplementary question.

David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

Can the minister expand on the impact that the government support for small and family businesses has had on the Australian economy?

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

When small and family businesses are supported, they succeed, and that is why we will always implement policies that are in their best interests. When you lower taxes—and our plan is going to see tax cuts for small and family businesses reduced to 25 per cent—and create the right economic framework for small and family businesses, what happens is they expand. They take advantage of new opportunities and, guess what? They employ more Australians. We get that on this side of the chamber. We get that small and family businesses are the key to job creation in this country. Only last week, we saw very strong job creation figures in Australia, with 44,000 jobs created in the month of August. Since we were elected to office in 2013, 1.1 million jobs have been created. (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Bushby, a final supplementary question.

David Bushby (Tasmania, Liberal Party) Share this | Link to this | Hansard source

Is the minister aware of any risks to the small and family business sector?

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

A very clear point of difference between the Liberal-National government and those on the other side, the Labor Party, is that we will continue to deliver lower taxes for small and family business—legislated down to 25 per cent—while those on the other side have promised every small and family business in Australia that, if they are ever elected to govern, their first act is going to be to raise taxes on those small and family businesses. Mr Shorten has actually made that a promise. He has promised small and family businesses in this country that he will implement policies that will destroy them. When you destroy small and family businesses, when you destroy those people, you destroy Australian jobs. The Liberal-National government, our government, will always stand by the backbone of our economy. We will stand by small and family businesses. We will back them and we will ensure that they— (Time expired)