The Albanese Labor government is unable to name one small business that supports its Budget and higher taxes.
Senate Estimates revealed Minister for Industry and Innovation Tim Ayres was unable to name even one small business in favour of its Budget, or a business he had met or consulted with since the Budget was handed down.
Nationals Leader Matt Canavan said it was a clear the Budget was a disaster for small businesses, with Minister Ayres failing to provide proof of holding any roundtables or meetings with small businesses.
“Labor has introduced the biggest tax changes in a generation, without a mandate, for the Australian people or small businesses,” Senator Canavan said.
“The Australian people and small businesses should have a choice about whether they sign up to the Labor Party’s plan to the biggest tax grab in history. That’s why we believe an election should be called immediately.”
Under the changes introduced, a 30 per cent minimum tax on discretionary trusts will begin from July 2028, while the 50 per cent capital gains tax will be replaced with CPI indexation, and a minimum 30 per cent tax on gains will apply from July 2027.
Shadow Minister for Resources, Senator Susan McDonald, said it was disappointing Minister Ayres couldn’t name a business supportive of the changes.
“It appears Minister Ayres couldn’t provide evidence or name a business he consulted with,” Senator McDonald said.
“The Minister couldn’t even give a region or area with a business that supported it either.
“In fact, there were no start-ups and no small businesses named that supports its Budget, because Labor knows this is a terrible Budget that will destroy small businesses and destroy ambition and risk.”
