Ombudsman Kate Carnell has welcomed the return of small business to cabinet in the wake of Malcom Turnbull’s departure.
According to reports, former small business minister Craig Laundy accompanied Mr Turnbull to his final party room meeting. Mr Laundy resigned and is said to be considering whether or not to contest the next election.
Under new Prime Minister Scott Morrison, former jobs and innovation minister Michaelia Cash will become Australia’s new Small Business Minister.
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Ms Carnell says the move signals “the importance of the sector to Australia and its economy”.
“It’s great to have the small business portfolio back in cabinet,” Ms Carnell said. “And to have Michaela Cash as the minister responsible.
“Australia is a nation of small businesses and family enterprises. Our new Prime Minister Scott Morrison sees the value of this sector – the backbone of the Australian economy.
“We thank former minister for small and family business, the workplace and deregulation, Craig Laundy, for his enthusiasm and in-depth understanding of the sector. He has done a great job.
“We look forward to working with Minister Cash on small-business policy and a range of important issues for small businesses and family enterprises.
“Most importantly, reducing the company tax rate for SMEs to 25 per cent, addressing ‘phoenixing’, improving small business’ access to capital, making the Fair Work Act easier to navigate, and implementing e-invoicing.”