1 February 2017
Media Release - #2017007, 2017

Small business central in Coalition jobs plan

THE Coalition Government’s central focus on jobs has a starring role for small business, Small Business Minister Michael McCormack says.

“Opportunity and security for Australians is the Coalition Government’s foremost focus – and we want small business central in delivering higher wages and more jobs around the country,” Mr McCormack said.

“Australia’s 2.1 million small businesses make an enormous contribution to the economy of almost $380 billion annually and employ more than 4.7 million people, accounting for 45 per cent of total employment.”

Mr McCormack said today’s speech to the National Press Club from Prime Minister Malcolm Turnbull highlighted the utmost importance of small business to the Government’s economic plan. The plan is focused on a reduction in the company tax rate and taking pressure off small businesses so they can thrive.

“We know it is small business – not Government – which creates jobs, opportunities and security for Australians, and that’s why we have a plan to keep small business in the driver’s seat,” Mr McCormack said.

“Small business tax cuts are central to our plan to create jobs. A reduction in the company tax rate – to its lowest level in almost fifty years – will give millions of Aussie small businesses the opportunity to invest more in their businesses and grow.”

Mr McCormack said the tax plan for small business comes from a Government with extensive experience in owning and operating small businesses and in employing Australians.

“The Liberal and National Parties are full of people who have employed Australians, taken risks and pursued their small business dream, including the Prime Minister and me.

“That’s why we know small businesses won’t put the tax cut into their pockets – it will go straight into more jobs and opportunities for their businesses and the people they employ.”

Today’s vision from the Prime Minister highlights the stark contrast in plans for small business between the Government and the Opposition, Mr McCormack says.

“Whilst the Coalition has a plan to cut tax and red tape, taking the burden off small business so they can grow, Labor wants to stand in the way and keep in place a globally-uncompetitive company tax,” Mr McCormack said.

“The Coalition understands the opportunities for Australians in small business in 2017 and has an effective plan to back them.

“Our plan will see more jobs and opportunities for Australians and a strengthened small business sector. I encourage the Labor Party and the crossbench to support our plan and back local small businesses.”