James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

My question is to the , Senator Cash. Minister, how are the Liberal-National government's policies of strong economic management and returning the budget to surplus benefitting our nation's 3.3 million small and family businesses and their 5.7 million employees?

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

I thank Senator Paterson for his question. As Senator Reynolds was actually stating herself, the Liberal-National government has overseen the creation of almost 1.3 million jobs since we were elected to office in 2013. That actually equates to 240,000 jobs per year on average compared to under the former Labor government where the economy only created on average around 155,000 jobs per year. So, on those statistics alone, the Liberal-National government's policies are job-creating.

The reason, though, that there are jobs being created is because the Liberal-National government has put in place the right economic framework. That, of course, includes lowering taxes, in particular for small and medium businesses; backing small and medium businesses; and ensuring that all Australians have the skills that they need. When you put in place the right economic framework, you create jobs—1.3 million almost. As such, we've been able to commit to the Australian people that our plan going forward is to create a further 1.25 million jobs if we're elected to government. A key part of our economic plan is to back Australia's small and medium businesses—around 3.3 million small and medium businesses. They employ around 5.7 million Australians. The way we backed them was by reducing their taxes to 25 per cent despite, of course, the opposition from the Labor Party. The Labor Party don't believe in lowering taxes. That is something that—on the Liberal-National side of politics—is in our DNA. We understand the more money a small and family business has in their back pocket— (Time expired)

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

Senator Paterson, a supplementary question?

James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Is the minister aware of any risks to the success of our nation's small-business sector?

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

When Mr Shorten announced Labor's so-called energy policy yesterday, I have to say that he sent a number of shivers up the spine of small business. In particular, he sent a shiver up the spine of the 3.3 million small and family businesses and the 5.7 million Australians they employ. Why? Because Labor have set a 45 per cent emissions reduction target. They have set a 50 per cent renewable energy target. They failed to tell anybody yesterday how they're going to implement it or how it will be paid, but what we do know is this: a 45 per cent emissions reduction target will destroy around 336,000 jobs. They will be destroyed; they will be wiped out. It will wipe around $9,000 from the wages of the average Australian and, of course, it will drive up electricity prices.

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

Senator Paterson, a final supplementary question.

James Paterson (Victoria, Liberal Party) Share this | Link to this | Hansard source

Minister, how can Australians avoid these risks to our nation's 3.3 million small and family businesses?

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

The election will soon be called and it presents a stark choice for all Australians. They can vote for the job-creating, tax-reducing policies of the Liberal-National Party or, alternatively, they can vote to pay higher taxes, they can vote to pay more for their electricity, they can vote for lower wages and they can vote for job losses because that is what they will get under a Shorten Labor government. On this side of the chamber, we believe in putting in place the right economic framework to ensure that our businesses—in particular, our small and family businesses, the backbone of the Australian economy—are able to prosper, grow and create more jobs for Australians, because we know, when a small business does prosper and grow, the whole of Australia benefits.