Transcript: Interview with Steve Stuttle from 4CRB Radio, Gold Coast, 15 April 2019

EO&E

Subjects: Candidate for Richmond Matthew Fraser, small business, pensioners, Inland Rail

MICHAEL MCCORMACK:
Good day Steve.

STEVE STUTTLE:
[Inaudible]

MICHAEL MCCORMACK:
Well I’m here supporting Matthew Fraser who’s having another crack at the seat of Richmond. He's had a couple in the past, and he's eaten into the margin. I appreciate ... He's got a challenge ahead but indeed it's a great opportunity too for the voters of Richmond to support somebody who’s going to support them. A voice in government, and that's what I believe Matthew Fraser will be if he's elected, will be a really necessary thing for the people of Richmond.

Particularly the retirees. And there are about eight or so thousand of them who on average, it's going to cost them about $6000, Bill Shorten's retiree tax grab. That's about $54 million being taken out of the Tweed, out of the Richmond area. That's not good for the local economy, and it's certainly not good for the retirees for whom that money has already been taxed. It's their money, and they need to keep it to pay for things such as presents for the grandkids, car rego, fix the fridge, or whatever they might have spent it on in the past. If Labor gets in, they're not going to be able to spend it on it in the future because Bill Shorten's going to take it.

STEVE STUTTLE:
[Inaudible]

MICHAEL MCCORMACK:
Well we visited Sue and Tony at NR Signs. They’re a little business, little small business that do a great job here on the Tweed. They talked about the instant asset write off, they're so pleased that it's going up to $30,000 for every item. And that's the case with every small business. That instant asset write off has been extended from $20,000 to $25,000 and in the budget extended to $30,000. And now eligible for businesses up to $50 million turnover. So that's a $50 million turnover, that's a lot of the businesses on the Tweed.

A lot of those small businesses, they employ a lot of people, and I know having run my own small business, and Matthew Fraser knows having run his small business that if you get a little bit of extra money you invest it back into the most important thing there is there for your business, and that is the people you employ. And of course the lowest tax rate for small business of 27.5%, we're working to getting that down to 25 cents on the dollar. That's the lowest it's been since 1940, so it's a 79 year low. We're backing small business. Small business is backing workers. And certainly we want to make sure that people up here in the north, up here in Richmond, know that we've got their back.

STEVE STUTTLE:
[Inaudible]

MICHAEL MCCORMACK:
Oh look, any number. We’ve been to a shopping mall this morning, we walked through a shopping mall, and we're just walking up the street and people were walking up to us and recognised both Matthew and I and had a chat to us. They were people … pensioners, who they've looked after themselves more over they've looked after their community. They've done the hard yards, they've supported society by paying their taxes all through the decades and they just want a good retirement. They want to make sure they've got every available penny that in the past has been available to them. They don't want Bill Shorten reaching into their purse, reaching into their back pocket and stealing it. They want to make sure that a Liberal Nationals Government continues to be able to support them. We will, we've said that. And the number of older Australians who've come to us and said, "Please, don't let Bill Shorten in the Lodge. We want our retiree savings, we want our franking credits." Has been amazing, I've actually been overwhelmed by it.

STEVE STUTTLE:
[Inaudible]

MICHAEL MCCORMACK:
Oh yes, well look, Mark Bailey the Transport Minister hasn't yet signed off the intergovernmental agreement. Look, I appreciate that there are concerns with the alignment. I understand that. But at the end of the day, the Inland Rail is going to support farmers and small businesses by making sure that the original estimations of a $10 saving per tonne is actually going to be nearing the order of an average of 76 and for post food process products, it’s going to be in the order of, horticulture it's going to be in the order of $94 saving per tonne. That's a significant saving, and to get those goods to port within 24 hours is an Australian first. And then of course we've got free trade arrangements organised with South Korea, China, Japan, Peru. We can get goods to port quicker, goods to market quicker, that's what it's all about. And I appreciate that when you build anything in Australia, particularly something of such a transformational thing as the Inland Rail, well yeah there are going to be concerns. I understand that. But we'll work through those. Looking forward to bringing this project to fruition.

And I've been up and about, it's a 1700 kilometre corridor of commerce. I've been up and down the line, I've spoken to stakeholders, and we'll continue to work through the ARTC, through Warren Truss, through Richard Wankmuller, who've had a lot of experience in this regard. And we'll sort through it and it will be something which will be nation building.

STEVE STUTTLE:
[Inaudible]

MICHAEL MCCORMACK:
Always a pleasure, no drama at all. Thanks.