Small business tax cuts "dumb": Labor

7 September 2017

AN explosive revelation about Labor’s plans to hike small business taxes was made clear in a morning radio interview today, Small Business Minister Michael McCormack says.

“… we're making dumb decisions like spending $65 billion on big business tax cuts.”

(Tanya Plibersek, ABC RN, 7 September 2017)

“Labor’s Deputy Leader has belled the cat today,” Mr McCormack said.

“Our plan for tax cuts over ten years – which includes the lowest tax rate in more than seven decades for small business – is something Labor thinks is ‘dumb’.

“I would ask the Deputy Labor Leader if it is dumb to want to grow the economy, dumb to want to increase wages and create new jobs, and dumb to want to see people succeed?

“If Labor winds back the Ten Year Enterprise Tax Plan Australia’s 3.2 million small businesses will have their taxes hiked – talk about dumb – increasing the taxes and pressures on our nation’s job creators.”

Mr McCormack said today’s extraordinary outburst from the Deputy Labor Leader follows a series of attacks by the Opposition on small business confidence.

“Labor has small business well and truly in its sights,” Mr McCormack said.

“Whether it’s a tax floor of 30 per cent on small business’s trust distributions or committing to cut our funding to reduce red tape, Labor’s small business attack knows no bounds.

“Labor voted against laws to make small business competition fairer and doesn’t believe more small businesses should access the instant asset write-off.”

Mr McCormack said a better deal for small business is central in the Liberals and Nationals’ Government.

“Unlike many in the Labor Party, Liberal and Nationals MPs have run small businesses, employed Australians and had a go,” Mr McCormack said.

“This is why we understand it is small business – not Government – which creates jobs and grows our economy. And it’s why we want to make it easier.

“Labor should learn small business is more than a river of gold from which to fund a tax-and-spend ideology. It’s a key part of our economy which we should all be backing.

“And unlike Labor, we don’t think or will ever consider a growing economy and more Australians in jobs is ‘dumb’.”

ENDS
 

Dom Hopkinson