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Wednesday, 3 April 2019
Page: 14629


Mrs WICKS (Robertson) (14:32): My question is to the Treasurer also. Will the Treasurer update the House on how the government is guaranteeing the essential services that Australian families rely upon, including in my electorate of Robertson? And how might a different approach to managing our economy undermine this approach?

Mr FRYDENBERG (KooyongThe Treasurer) (14:32): I thank the member for Robertson for her question. I can inform the House that, as a result of the measures announced last night, there are more than 16,000 small businesses in the member for Robertson's electorate, and medium-sized businesses, that will benefit from the extension to the instant asset write-off to $30,000—and also to companies with a turnover of up to $50 million.

Mr Champion interjecting

The SPEAKER: The member for Wakefield will leave under 94(a).

The member for Wakefield then left the chamber.

Mr FRYDENBERG: We've already seen more than 350,000 small businesses—

Opposition members interjecting

Mr FRYDENBERG: The Labor Party is not interested in small business. They actually want to increase the taxes on small business. They're not interested in small business; they're not interested in the engine room of the economy—3.3 million people. In every corner of the local community there is a small business, from the drycleaner, to the cafe, to the person who runs the local shop. They're the small businesses that we, as Liberals and Nationals, spoke to last night. And they are the small businesses that the Labor Party ignores.

In the member for Robertson's electorate there are 16,000 of them that will benefit directly as a result of the measures. There are nearly 60,000 taxpayers in the member for Robertson's electorate who will benefit directly from the tax cuts that we announced last night. There are two instalments to those tax cuts. There is the extension of the instant low-and middle-income tax offset, which will see somebody on $60,000 a year get $1,080 in their pocket in just 13 weeks time when they put in their next tax return. If you're a teacher or a tradie and you're a couple in a family, if you're earning $60,000 each then that's $2,160 in your pocket in 13 weeks time due to the announcements of the Morrison government. That's money that goes to your quarterly energy bill. That's money that goes to your monthly mortgage payment. That's money that goes to your yearly car insurance. These are decisions taken by our government that will ease the cost of living for all Australians. And because we have a strong budget position we are able to spend more—record amounts on hospitals and schools, like building a children's cancer centre for the first time in Sydney, like a brain and spinal ward in South Australia, like extending the PBS to six new drugs, like one for acute leukaemia that would otherwise cost $130,000 for a course, but now will cost $6.50 for a concession card holder and $40 for someone who is a general patient. Last night's budget was for the people of Australia. Last night's budget creates a stronger economy. Last night's budget guarantees essential services.