Albanese pledges support for small business

Prime Minister Anthony Albanese used his National Press Club address to lay out a major plan for Australia’s economic future that puts small businesses front and centre. From tax relief and productivity gains to skills reform and cheaper energy, Albo’s address struck a hopeful tone.

“We want to build an economy where growth, wages and productivity rise together,” he said. “Our plan is about Australians earning more and keeping more of what they earn.”

So what’s in it for small business owners? Plenty.

Tax cuts and instant asset write-offs

The PM confirmed that top-up tax cuts will roll out next year and the year after, providing extra take-home cash for millions of Aussies, including sole traders and small business owners.

Plus, there’s a new $1000 Instant Tax Deduction. Perfect for new tech, tools or upgrades.

Energy bill relief

If rising power costs have been zapping your profit margins, take heart. More direct assistance is on the way, Albanese said, to help families and small businesses manage energy costs, part of Labor’s broader push into renewable, cheaper energy.

“We’re delivering our energy policy: renewables, backed by gas, batteries and hydro,” Albo said. “This is about cheaper bills and cleaner jobs.”

A productivity push that makes life easier

Albanese stressed his Government’s commitment to “getting the basics right”. That means faster project approvals, cutting red tape, and investing in better digital services through agencies like Services Australia.

He also pledged action on streamlining occupational licensing across states and tackling non-compete clauses that can stifle innovation and hiring in small businesses.

“We’re targeting duplication, removing barriers to investment and reducing the cost of doing business,” he said.

Skills, training and talent development

Training is another big focus for the government, with Albanese highlighting the need for a nimble, job-ready workforce.

“We’re investing in the skills our nation needs, and making sure those qualifications are recognised nationwide,” Albanese said,

“If you’re struggling to find skilled workers, especially in trades or tech, Labor’s education pipeline, from early learning through TAFE and uni, is designed to ease that pain.”

A voice at the table

In a spot of good news for small businesses tired of being left out of big-picture discussions, the PM announced a new growth and productivity roundtable this August. It’ll bring together business leaders, unions and civil society to nut out practical steps forward.

Albanese said it’ll be a “more targeted set of issues” than the Jobs and Skills Summit, aimed at delivering “concrete and tangible actions” that benefit the whole economy, small biz included.

A strong economy the “Aussie way”

In a message tailor-made for battlers and entrepreneurs, Albanese said Australians voted not just for policies but for values.

“Fairness, aspiration and opportunity for all,” he said. “Not seeking to imitate low-wage economies, not leaving people behind…but trusting in our national values. Backing our people. Rewarding their hard work.”

He was also clear that government still has a role to play in shaping that future.

“Not every challenge can be solved by government stepping back. This is a time when government has to step up,” Albanese said, adding that his government will continue investing in infrastructure, skills and innovation to drive productivity and long-term growth.

Small business owners should take note: whether it’s lower tax, lower energy costs, access to skills, or a fairer regulatory playing field, Labor’s second-term blueprint promises to deliver practical help where it’s needed most.

Albanese rallying cry for the government’s second term made it clear: “With optimism, urgency, purpose and determination, we intend to make every single day count,”

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