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Coalition Plan for Recovery includes practical measures to help local small businesses.

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The Hon Bob Baldwin MP Federal Member for Paterson

18 May 2009

Coalition Plan for Recovery includes practical

measures to help local small businesses

Member for Paterson, Bob Baldwin MP, believes that Kevin Rudd and Labor have ignored small businesses in Paterson; the engine room of the local economy, growth and jobs.

“After inheriting the strongest economy in the world, Mr Rudd is recklessly spending money and failing to properly assist small business, the key to Australia’s economic recovery.”

“Small businesses in Paterson employ the bulk of locals, therefore it is necessary they receive the right government assistance to get them through these difficult economic times.

“That’s why the Coalition has provided a Plan for Recovery for Australian small businesses.

“The Plan for Recovery includes key measures for small business that are job-focused and practical in this difficult economic period.”

The Coalition’s Plan for Recovery includes:

Tax loss carryback for businesses which make operating losses this year or next year Fairer rules to deal with troubled businesses Cutting red tape and making it easier to do business with Government Helping employers provide training for the recovery

"There is nothing in Labor’s Budget that will assist small business cash flow, which is their single biggest challenge, yet small business is expected to help pay off Labor’s record net debt of $188 billion.

“The Rudd Labor Government’s out-of-control and undisciplined financial management is making a challenging situation even worse. By 2012, Labor’s net public debt will surge to $188 billion - double its previous record peak under Paul Keating.

“Small businesses are the key to Australia’s economic recovery. If jobs are going to be generated in Australia, they are going to be generated by small business.

“The Coalition has listened to the concerns of small business about the need for less red tape and more effective incentives to keep apprentices on during this tough economic period. Our proposal provides the right incentives to help small businesses in Paterson during this economic downturn.

“By helping small business, the Coalition is speeding up Australia’s economic recovery and making sure more employers can keep their staff on the payroll.

“Kevin Rudd and Labor’s neglect of small business will certainly impact on jobs, with one million Australians expected to be unemployed by 2010/11.

“Where are the incentives in Labor’s Budget for small business to grow? Labor has missed an opportunity to assist local small businesses and keep staff on the payroll.

“Labor’s Budget is slugging small businesses even more by increasing the fees and charges collected by the Australian Securities and Investments Commission (ASIC).

“This extra tax slug will cost Australian businesses $84.3 million and impact even further on business cash flow stress,” Mr Baldwin said.

Media enquiries: Elizabeth Watkin- 0404 005 036

Bob Baldwin - 0419 694 620