Families and small businesses in Bonner will benefit from big savings under the Morrison Government’s new plan for affordable and reliable energy.

The Morrison Government will:

• Stop the price gouging by the big energy companies by banning sneaky late payment penalties, requiring them to pass on savings in wholesale prices to customers, strengthening the regulator’s power to crack down on dodgy, anti-competitive practices, and shining a spotlight on energy companies’ rorting through ‘gold plating’ their networks. We will take a big stick to the big energy companies to stop the big rip offs.

• Create a price safety net to protect customers and remove the loyalty tax on those who have stayed with their energy company or don’t have time to shop around for a better deal. A fairer default price will give customers transparency and clarity, providing relief from confusing and often more expensive standing offers. Median standing offers in South East Queensland can be up to $369 per year more expensive than the cheapest market offer for households, and up to $2152 per year more for small businesses.

• Back investment in reliable generation which will improve competition, lower prices and guarantee reliable supply. We know that renewables are only cheap when the sun is shining and the wind is blowing. The Government will support projects that reduce wholesale electricity prices, support the reliability of the grid and increase competition.

• Support reliable power by requiring energy companies to sign contracts guaranteeing enough energy to meet demand. This will prevent blackouts and stop their disastrous impact on local economies in Bonner.
Federal Member for Bonner, Ross Vasta MP, has welcomed the Government’s strong action to lower power prices while keeping the lights on.

“I know families and small businesses in Bonner are struggling with rising power prices. Often they tell me negotiating with energy companies can be time-consuming and confusing”.

“Our plan will take the pressure off families and small businesses and put customers back in charge by cracking down on dodgy practices, supporting investment in new generation and guaranteeing reliable supply,” Mr Vasta said.

Mr Vasta also called on the Queensland Government to stop profiteering from families struggling with the cost of living. The Queensland Labor Government owns 70% of the state’s generators, which are earning excessive profits. This is a secret energy tax on Queenslanders. As households and businesses struggle with record power bills, Queensland’s state-owned power companies made an extra $269 million in profit last financial year to deliver a $1.65 billion dividend to the Palaszczuk Labor Government. Record profits from Government-owned generators are being taken from the pockets of Queensland families and small businesses straight into the Labor Government coffers.

The Morrison Government’s plan builds on this Government’s strong record of lowering power prices that saw retail electricity prices drop in Queensland on 1 July 2018.

Since 2013, the Government has abolished the carbon tax, reined in the power of the electricity networks, secured better deals for 1.6 million households and provided $269 million for one-off Energy Assistance Payment to age and disability support pensioners, single parent families and veterans.

In contrast, Labor plans on introducing a 50% Renewable Energy Target and 45% Emissions Reduction Target. This reckless policy will damage the local economy and be paid for by every energy user in the country.

There’s been some big news for Bonner recently! The winner of Queensland’s best fish and chip shop was one of our very own in Wynnum West. Fish and Chip Co was named overall winner of the 2018 Australian Fish and Chip Awards at the Queensland Seafood Industry Awards, or the Seafood Industry Oscars as they like to be called.

It was great to have a mobile office outside Fish and Chip Co the other day. I had a good chat with owner Demetri about their successes, and the challenges of running a business in the current environment.

I know a little something about these challenges. I ran a chain of Italian restaurants for a number of years. I understand how every little thing adds up. Decisions made at the Federal level mean the difference between surviving or having to lay off more staff for millions of small businesses across Australia.

That’s why I’m happy to say yet again this Coalition government has delivered for Aussie small businesses – small businesses like Fish and Chip Co that employ almost seven million Australians, 408,000 in Queensland.

Last month we passed legislation to extend the $20,000 instant asset write off another 12 months to 30th June 2019. Local small business owners continue to tell me how much this measure has helped them. Well over a thousand local businesses in Bonner have benefitted from the instant asset write off alone.

Then there are the tax cuts for small and medium businesses we delivered last week. Small and medium-sized businesses will now pay less tax five years earlier than planned. This is great news for over 15,000 local businesses in Bonner and over three million businesses across Australia.

By fast-tracking this tax relief for businesses in Bonner, we will make a more immediate difference to the individual businesses and the people who work for them. It means more money for local business owners to employ more staff. When business owners like Demetri can keep more of their own money, they have more to invest back into their business. That means more jobs, increased productivity and growth.

This legislation builds on the first stage of company tax relief we delivered in May last year. It stands in stark contrast to Labor’s plans for higher taxes for small businesses, along with higher taxes on income, savings, property, power and more—around $200 billion in higher taxes!

I look forward to seeing this government deliver more relief and support for small businesses like Fish and Chip Co in my electorate. Congratulations again to Fish and Chip Co for their well-deserved award! It’s always great to see outstanding small businesses in Bonner recognised for their high quality. I will just say their fish and chips are truly some of the best I’ve ever had!