Senator the Hon. Michaelia Cash MP, Minister for Small Business, Skills and Vocational Education, this morning opened the Vodafone National Small Business Summit in Sydney, revealing that unemployment is at its lowest level since 2012, down to 5.3%, crediting small and family business as a strong contributor.
Minister Cash said; “What I’m most proud of is the unprecedented jobs growth. We said to the Australian people that we would put in place the economic framework to ensure that businesses are able to prosper and grow. And in doing that, we wanted to see the economy grow in 5 years, creating 1 million new jobs. We have delivered, 4 months ahead of schedule. Last year, we saw the strongest jobs growth on record, with more than 412,000 new jobs created.
“As a Government, we will be behind you [small business] every step of the way. Thank you for providing millions and millions of Australians with jobs. Thank you for being the bedrock of our local communities. When small and family businesses prosper and grow, Australia as a nation prospers and grows.”
Commenting on the policies, Minister Cash said they have been able to provide tax cuts for small and family businesses with an annual turnover of up to 50 million dollars. “Statistics show 3.3 million Australian businesses, employing over 6.8 million Australians have benefited from the company tax cut to 27.5%, now the lowest in 50 years. We aren’t stopping there, it’s a legislated plan. Company tax cuts will reduce further, to 25% by 2026/27.
“My role is to represent small business views in cabinet, take on your feedback and continue to create the right economic environment for you to prosper and grow, so you can continue to be the engine room of the Australian economy. Government needs you to be successful, because when you are successful, our nation prospers, and that is what we all want,” concluded Minister Cash.
The new Minister for Energy, the Hon. Angus Taylor MP, took to the stage and presented the key initiatives he will tackle in the role, advising there is a simplified and clear goal to, “Get prices down while keeping the lights on,” under his ministry.
Over the next two days the Summit will hear from the Hon. John Barilaro MP, Deputy Premier of New South Wales, Minister for Regional New South Wales, Minister for Skills, and Minister for Small Business; Kate Carnell, Australian Small Business and Family Enterprise Ombudsman (ASBFEO); and the Hon. Chris Bowen MP, Shadow Treasurer; and all the Australian regulators.
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Senator the Hon. Michaelia Cash MP, Minister for Small Business, Skills and Vocational Education