Local businesses are vital to a stronger economy for our community and more jobs for our people. That’s why Labor has a comprehensive eight-point Local Jobs Plan designed to deliver a boost to the local economy.
The plan outlines the way we’ll work with local businesses and grow jobs in the community. It includes:
- Tax breaks for local businesses, not foreign multinationals and the big banks: Local small and medium businesses with a turnover of up to $50 million a year will have their tax rate reduced to 25 per cent by 2021-22. Under Labor, 99 per cent of businesses will receive a tax cut, no business will have their tax rate increased, and all businesses will be able to plan and invest with confidence and certainty.
- A new Australian Investment Guarantee to encourage investment in our local economy: Under Labor’s Australian Investment Guarantee, local businesses will be able to immediately deduct 20 per cent of any new eligible asset worth more than $20,000, with the balance depreciated in line with normal depreciation schedules from the first year. Labor’s Australian Investment Guarantee is permanent – that means businesses can continue to take advantage of the immediate tax deductibility whenever they make a new investment in an eligible asset.
- More apprentices, better TAFE and teaching, and training locals for local jobs: Labor will boost the number of local apprentices and ensure more locals have an opportunity to learn a trade. Labor will provide additional Apprentice Incentives to local employers and apprentices to reverse the apprenticeship decline; require at least one in 10 jobs on all major Commonwealth and defence projects to be filled by an apprentice or trainee; help young local job seekers choose the best apprenticeship for them by providing nationally recognised, industry endorsed, 20 week pre-apprenticeship training; and fast-track quality trade apprenticeships for adults who need to retrain because of changes in the economy. Labor will also invest $200 million, including in our local community, to reverse the decline in TAFE facilities, and guarantee TAFE at least two thirds of public vocational education funding.
- Enforcing higher NBN service standards to meet the needs of local businesses: Labor will establish an NBN Service Guarantee to set service standards for fault repair and installations. This policy will better safeguard local small businesses and consumers against unreasonable and excessive periods of NBN downtime. Remedies will apply when service standards are not met, with stronger penalties to apply for issues which impact on local small businesses. Downtime for local small businesses isn’t just stressful – it costs money. Less downtime and greater accountability – that is what we want to deliver.
- Growing our local renewable energy industry, including subsidies for solar battery storage: Labor has a plan for more renewable energy jobs and cheaper power, with a 10-year energy investment framework that delivers certainty for industry, lower power prices and more reliability. We’ll give local businesses the policy certainty to invest in clean energy by implementing Labor’s National Energy Plan. We’ll also double the original investment in the Clean Energy Finance Corporation (CEFC) by $10 billion to support new generation and storage, concessional loans for household purchases of solar and battery systems, commercial community renewables projects and the transformation and growth of new and existing industries. And we’ll implement a suite of measures to help local businesses improve their energy efficiency and cut their power bills, including grants of up to $20,000 to manufacturers to help them reduce their energy usage.
- Giving local businesses and apprentices a bigger slice of the action on Government contracts: Labor will boost local jobs by providing more opportunities for local businesses and solving local skills shortages with our Local Projects, Local Jobs Our plan will invest in local infrastructure projects including road, rail and port upgrades and will make sure that Commonwealth investment results in local jobs. We’ll require government departments to work with local firms to ensure they can benefit from government contracts, and properly value the economic benefit that local businesses provide, and we’ll ensure that more public and large private projects will be required to put in place plans to give Australian firms a chance to win work on major projects.
- A fair share of road funding and proper investment in vital public transport projects: Not only will Labor fund vital road upgrades, including to the M1 and the Mt Lindsay Highway, but we’ll also contribute $2.24 billion to get Cross River Rail up and running – a vital infrastructure project that will make travelling into the CBD quicker, and will significantly ease congestion on key roads such as the M1, Kingston Road and the Logan Motorway.
- Local job-creating investments: Labor has announced key local infrastructure projects that will create jobs in our local community, including a $33.4 million urgent care clinic at Logan Hospital, a $5 million maternal health hub and a $3 million Regional Innovation Data Lab at Griffith University, a world-class training facility at Loganlea TAFE, and a new headspace centre in Logan to support youth mental health.
Locals can vote for a strong, united and stable Labor team that is investing in our local community, its people and its economy, or they can have more of the same LNP cuts and chaos.