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Government grants more power to small businesses

If voted in during the election, the coalition government says it will offer more regulatory power to small businesses.

The coalition government has announced it will grant more regulatory powers to small businesses if it is voted in at the upcoming election.

Coalition leader Tony Abbott says he will make the small business minister part of the cabinet and will add people with experience in small businesses to the Board of Taxation, the Australian Competition and Consumer Commission and the Fair Work Commission.

Mr Abbott says he wants small businesses to have more of a voice in economic conditions.

This move has been welcomed by the Master Builders Australia (MBA), which says that small businesses are currently struggling under red tape.

Chief executive officer for MBA Wilhelm Harnisch said: "The building industry is one of Australia’s most intensely regulated and welcomes measures which would give business a greater voice on the regulatory bodies which increasingly impact on their operations."

He added that decreasing red tape will help to cut costs on building, which will in turn improve housing affordability and community infrastructure.

Posted by Steve Douglas

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