Turnbull opposes stimulus package: Small business may suffer
Opposition Leader Malcolm Turnbull has not only rejected the Federal Government’s stimulus package but has suggested that the Government pay the superannuation obligations of a range of businesses, causing outrage with Senator Nick Sherry, Minister for Superannuation and Corporate Law, believing Turnbull has not given enough thought as to how it will affect small business.
The coalition has suggested the Commonwealth pay a portion of the Superannuation Guarantee Levy on behalf of small employers over the next two years.
Turnbull believes this will “directly improve the cash position of small firms, directly reduce the costs of employment, and so directly contribute to preserving jobs.”
However, Sherry disagrees believing that Turnbull has given little thought to this proposition and how it will directly affect small businesses.
“Malcolm Turnbull is denying Australians immediate, timely and targeted action, whilst on the other hand he’s proposing to recklessly add to the budget deficit at a time when all spending needs to be focused on delivering jobs, economic activity and adding to growth.”
Small Business Minister Craig Emerson agrees.
“It is totally unclear as to how such a proposal would stimulate the economy… by contrast the Rudd Government has already acted decisively to assist small business though a multi-billion package.”
Turnbull is expected to release an alternative package next week.
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Good article
Great article! I look foreard to coming back and reading what others have to say.
This is definitely something that has stirred up alot of controversy over the past couple of days. I will be interested to find out what Turnbull is proposing to do for the economy seeing as he seems so opposed to Rudd’s proposal!
Have you seen how much will still need to be borrowed under Turnbull’s stimulus package? He has not exactly come up with a radically different proposal.
as a small business owner and sole trader, i feel the government has forgotten that not all people have children, or have any definable income, sure i run a business but i do not take a wage all the money i earn is going back in to the company to keep it afloat, living where i live it looks like the dole bludgers are living the highlife whereas the people that actually work for a living are the ones getting hit the hardest, i know there are familes out there making a genuine go of things but there are also alot out there that live of the dole and push out kids at an alarming rate, and with all of these ‘stimulus’ packages and bounuses its like the government is egging them on, help out the people that have trouble paying rent and keeping a roof over their heads, my girlfriend and i work our butts off and so far it seems like the only people missing out on this whole thing is us, hell atleast give the little guys something to make sure we have a place to live next week!!!!