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Wednesday, 13 September 2017
Page: 10325

Ms FLINT (Boothby) (19:28): I am pleased to be speaking this evening on our enterprise tax plan that will boost the Australian economy and create prosperity and jobs for hardworking Australians and the business owners who employ hardworking Australians. The tax plan is about encouraging employers to invest and grow their businesses. We know that employers are the backbone of our economy. They generate income for our fabulous nation and ensure job security for employees. With more employment and high wages growth, we will see more people achieving the safety and security in their employment that they need for themselves, their families and our community.

By dropping the company tax rate, our government will give business the certainty that it needs to plan for long-term growth in Australia. This will unlock so much untapped potential for private sector investment and it will allow us to better compete for investment globally. The idea is simple. With businesses handing over less of their revenue to the government, they will have more money to invest in themselves and their staff, and capital for purchasing machinery and equipment. By doing this, they will increase their output, which means more jobs and more hours of work for Australian workers.

A high corporate tax rate ultimately hurts hardworking Australians, with the company tax burden falling on employees through lower real wages growth. With a tough global economic environment, the task falls to us, the Liberal-National coalition government, to implement our ambitious policies to boost our nation's economy.

Debate interrupted.