The Minister for Small Business has used the 90th birthday of an Australian icon to plug his party’s tax cuts and deregulation.

Small Business Minister Bruce Billson says it took true entrepreneurial nous by the founding fathers of Vegemite to spread their product across Australian market.

Mr Billson spoke at the brand’s 90th birthday celebrations in Port Melbourne.

Vegemite comprises nearly everything required for a great Australian success story and delicious lunchtime spread; it is a home grown, natural, healthy product based on Brewer’s yeast, named by members of the public, better than its British counterpart, has a catchy theme song and can be prepared and enjoyed by all ages.

“What the Vegemite story shows is that with some Aussie grit and determination anything is possible in business and the Coalition is keen to help out where it can,” Billson said

“It’s why we will remove a $1 billion worth of red-tape out of the economy, axe the carbon tax and cut the company tax rate”

“It’s important we create the right environment for small business... to invest, take risks, persevere with enterprise and provide opportunities for others like the founding fathers of Vegemite did 90 years ago.”