An LNP Government will provide a major boost to small and medium sized businesses in Queensland, by cutting payroll tax if it is successful at the state election on 25 November 2017.
Hinchinbrook MP, Andrew Cripps, said the LNP’s announcement was a vote of confidence in the capacity of small and medium businesses to get the state economy going and create new jobs.
Mr Cripps said small and medium businesses across Queensland were crying out for leadership on economic policy and the LNP understood that payroll tax was a big barrier to job creation.
“Payroll tax is a tax on jobs – so the LNP has committed to lifting the threshold by $25,000 a year for 10 years – giving businesses the confidence to grow and employ more people” said Mr Cripps.
“We believe about 14,000 businesses could benefit from the LNP’s policy to cut payroll tax – 4,000 could grow without exceeding the threshold and 10,000 could have their bill reduced” he said.
“This announcement is consistent with the actions of the previous LNP Government, which also increased the payroll tax threshold for small and medium businesses in the 2012 state budget”.
“The LNP has a track record of demonstrated delivery as far as cutting payroll tax for Queensland businesses is concerned – we have done it before and we will do it again if we are elected”.
Mr Cripps said under the Palaszczuk Labor Government, there has been no structured economic policy to encourage businesses to employ more Queenslanders in long term, stable jobs.
“The Palaszczuk Government has thrown a lot of taxpayers’ money around, spending huge sums on short-term employment programs that have not resulted in real jobs, just more Labor debt”.
“Unemployment in North Queensland remains at 11 per cent and youth unemployment is still at 22 per cent, while Queensland’s public debt has gone past $81 billion for the first time in history”.
“The LNP understands that we have to give our small and medium businesses more confidence to invest and grow to boost our local economies – paying payroll tax does exactly the opposite”.
“The LNP is responding to the clear message we have received from industry and business groups across Queensland that cutting payroll tax would provide many of them with new opportunities”.
Mr Cripps said the initiatives in the LNP’s economic plan, supported by policies covering the state’s six leading economic drivers, would create jobs and get Queensland back in business.