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Tasmanian small business major contributors to growth and employment

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JUDIMOYLAN MP Shadow Minister for Small Business & Shadow Minister Assisting the Leader on Women's Affairs M e m b e r f o r P e a r c e MEDIA RELEASE

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Tasmanian small businesses comprise 97 per cent o f all businesses in the State, and represent 54,3 per cent of the State’s private sector employment

“Small business are the engine room of Australia's economy and are vital to the overall economic growth of the nation. They are a most important factor in stimulating investment and employment growth broadly through Australian communities,” said Mrs Judi Moylan MP, Shadow Minister for Small Business.

“What is most evident from my discussions with small business proprietors is that current Federal Government policies are not conducive to small business growth and expansion.

‘The threat o f further interest rate increases, an Inflexible industrial relations regime and the spectre o f tax increases in next week’s Federal Budget are just some o f the issues increasing the level o f uncertainty for small business. .

“Small businesses can play a major role in reducing unemployment levels in Tasmania, but not without recognition from the Labor Government that their contribution to Australia's economic and social environment is valued.

“The Labor Government’s intransigence on issues such as regulation and compliance cost reductions, which would have a major impact on the profitability o f small businesses, are overlooked time and again. It’s all too hard for the Prime Minister and the Minister for Small Business, Customs and Construction, Senator Schacht.

“The recent Fringe Benefits Tax compliance costs review provided just one opportunity for the Labor Government to ‘get it right’ for small business, but it M e d that test, miserably.

"Speculation surrounding next week’s Federal Budget further highlights how out of touch the Labor Government is to the circumstances o f small business and its direct links to employment and community development.

‘T he mining industry, which is comprised o f a large number of small mining companies, as well as hundreds of small businesses who provide vital support services, is facing the prospect o f a severe cut-back in the level of the diesel fuel excise rebate. This has the potential to reduce the economic life o f many mining operations, reduce export growth and future investment, with critical implications for individuals employed directly in the mining industry, and small businesses involved through the provision of ancillary services.

“Small businesses in rural and regional Australia are set to suffer from the implications of such a decision. The Government has no understanding, or consideration of the aspirations, careers, and families of those who will be affected.

“It is, unfortunately, another example of the true cost of Labor's thirst for big government. Families and small businesses will be left to bear the brunt of Labor’s failed policies.

“Tasmanian small businesses, like their counterparts around Australia, cannot continue to exist in the Labor Government’s economic twilight zone.” COMMONWEAT ΤΉ



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