Coulton’s Catch-up 23rd January
I believe that small business is the most critical part of our economy – the source of much of Australia’s innovation, economic growth and job creation. Australia has over 2.7 million small businesses, with 35% of them located in regional areas. 95% of Australian businesses are defined as small, providing almost four million jobs representing almost 50% of private sector employment.
As you know, the burden on small businesses is growing day by day. Since 2007, Federal Labor has introduced over 12,835 new regulations, putting even more pressure on small business owners who struggle with increasing compliance and red tape. We need a new approach to small business that recognises the huge contribution small businesses make to our economy. By freeing small business from the burden of red tape and unnecessary cost we can lift national productivity and create jobs.
The Coalition has committed to reducing the costs of red tape by $1 billion per annum. As part of our war on red tape, the Coalition has formed a Deregulation Taskforce to start doing the heavy lifting required to cut red tape and compliance costs.
Small businesses in the Parkes Electorate employ the bulk of locals and as such it is crucial that in order to provide the right support to our small businesses I am aware of the difficulties our small businesses are facing. If you would like to recommend areas that should be considered in the deliberations of the Deregulation Taskforce, then please send me your ideas and recommendations and I will provide it to them.
In addition to establishing a Deregulation Taskforce, the Coalition will:
· Simplify the administration of compulsory employee superannuation contributions by allowing small businesses to submit compulsory superannuation contributions to the ATO who would then distribute to superannuation funds;
· Move the administration of the national paid parental leave scheme from small businesses to the government’s Family Assistance Office;
· Recognise contractors as legitimate form of business and allow them the freedom to engage and contribute to the economy without harassment.
· Rescind the Carbon Tax. The carbon tax will increase the costs of every small business and will export jobs and emissions overseas;
· Reduce small business compliance costs by publicly detailing the costs of compliance on all new laws;
· Reduce red tape compliance costs by $1 billion each year and report back to Parliament every year detailing how government is meeting that goal;
· Strengthen support for small businesses impacted by natural disasters through the provision of concessional loans not only for those directly affected, but also those consequentially affected by a natural disaster;
· Give small business a voice in Cabinet by including the Minister for Small Business in cabinet.