Following the recent leadership spill, which saw Scott Morrison become the 30th Prime Minister of Australia, a new small business ministry was established, with Senator Cash appointed to the minister role.
In her first official speech as minister, Ms Cash told attendees at the National Small Business Summit in Sydney that the federal government maintains commitment to the sector and would pursue a policy agenda that would “create the right economic environment” for SMEs.
“As a government, we will be behind you (small business) every step of the way. Thank you for providing millions and millions of Australians with jobs. Thank you for being the bedrock of our local communities,” the Small Business Minister said.
“When small and family businesses prosper and grow, Australia as a nation prospers and grows.”
Ms Cash also noted the government’s commitment to introducing further tax cuts to small businesses with an annual turnover of up to $50 million.
“Statistics show 3.3 million Australian businesses, employing over 6.8 million Australians, have benefitted from the company tax cut to 27.5 per cent, now the lowest in 50 years.
“We aren’t stopping there, it’s a legislated plan. Company tax cuts will reduce further, to 25 per cent by 2026–27.”
Ms Cash added: “My role is to represent small business views in cabinet, take on your feedback and continue to create the right economic environment for you to prosper and grow so you can continue to be the engine room of the Australian economy.
“Government needs you to be successful, because when you are successful, our nation prospers, and that is what we all want.”
Also speaking at the conference was the new Minister for Energy, Angus Taylor, who added that the government would work to ease rising energy costs for small businesses, claiming that it would “get prices down while keeping the lights on”.
Mr Morrison was praised by the small business community for returning the small business portfolio to cabinet, with hopes doing so will make the sector a prominent issue for the government.