The cost of credit is a key issue impacting small business in Bradfield, said Liberal candidate, Paul Fletcher.

Mr Fletcher today hosted a Small Business Forum at the Roseville Memorial Club with Shadow Minister for Small Business, Steven Ciobo MP.

It was one of more than 70 forums the Liberal Party has held across Australia as it consults directly with small business owners on its policy development.

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“Small business is such an important part of our local economy and community.  We need to ensure  government policies support not hinder small business,” Mr Fletcher said.

“One of the key issues raised is the difficulty small businesses now face in securing credit.  It is clear small businesses are paying more for credit because of poor policy decisions by the Rudd Labor Government.”

“Labor’s bungled bank guarantee has reduced competition in the finance sector and this has made it harder for small businesses to get credit.”

“What’s worse, Labor failed to get the banks to pass on interest rates in full to small businesses.”

“Clearly, Labor’s reckless spending and massive debt will push up interest rates.”

According to the latest figures by the Reserve Bank, small businesses are currently paying 1.3 percentage points more than home loans.

“This is nearly six times the average of the past decade and still more than five times the premium small businesses were paying during the Asian Financial Crisis,” said Mr Fletcher.

Other issues raised included concerns about the government’s broadband roll-out and the high cost of telecommunications, and the lack of co-ordination between the state and federal governments which increases red tape.