THE country’s treasurer says company tax is the biggest issue facing Tamworth businesses, after meeting with local stakeholders.
Federal treasurer Scott Morrison sat down for breakfast with Deputy Prime Minister and New England MP Barnaby Joyce, as well as a handful of local businessmen and women in Tamworth on Sunday morning, during a weekend tour of the electorate.
And he says the message he got was support for the government’s position on the company tax rate.
"Because these are businesses now in Tamworth which are seeing the benefit of the improvement in agriculture and they are seeing more money flow through the system and what that means is lower company taxes for these businesses,” Mr Morrison said in a press conference.
The breakfast included National Party members, like Russell Webb and Bede Burke, along with hotel businessman Jye Segboer, public relations consultant Robbie Sefton, as well as other business and banking representatives and consultants.
Mr Morrison said the concerns in Tamworth echoed the sentiment he’s hearing across small and medium-sized businesses.
“They know that that money was hard to come by and when they get the opportunity they want to invest,” he said.
“And what we want to do by taking the tax monkey off businesses’ backs, particularly here in places like Tamworth, and it allows them to invest more back into their business.”
The Turnbull government wants to reduce Australia’s company tax rate from 30 per cent to 25 per cent over 10 years.
The business breakfast followed a tour of Tamworth, and a National Party fundraiser in Willow Tree on Saturday night.
"It's been great to go round with Scott [on Saturday], we've been talking to people in the property development area, seeing the work that's done,” Mr Joyce said on Sunday.
“We went out to the Moore Creek area and saw the work that's going out there and I know the treasurer has an intense interest in housing affordability and it's never a panacea.
“Part of the solution is people living in regional towns and how we grow these region areas.”