15 PERCENT GST CONSUMPTION HIT WILL HURT MELBOURNE SMALL BUSINESS

Small businesses at North Melbourne’s Queen Victoria Market have told Shadow Small Business Minister, Michelle Rowland and Labor’s candidate for Melbourne, Sophie Ismail that they don’t want an increased GST hitting consumer spending.

 

Small businesses and traders know an increase in the GST will hit people’s ability to spend and shrink business sales.

 

It’s a simple equation: if you make basic items more expensive for Australian families, they will buy less of everything. That means less spending at small businesses throughout Australia, including Queen Victoria Market.

 

As well as hitting small businesses this will hit the economy as a whole, with household spending making up about three-fifths of Australia’s economy.

 

Unlike Malcolm Turnbull, Labor will protect consumption in the Australian economy by opposing any increase in the GST, putting up the price of everything.

 

The fact is, when Malcolm Turnbull looks to expand and increase the GST, Australians will be faced with higher prices and small businesses will suffer.

 

FRIDAY, 22 JANUARY 2016