Budget Focus on Jobs and Growth Welcome
The 2015 Budget rightly puts the focus on jobs and growth and highlights the scale of the economic challenge facing the Government to return the budget to surplus, according to the Australian Food and Grocery Council (AFGC).
AFGC CEO Gary Dawson welcomed the range of budget measures aimed at improving investment confidence and stimulating employment growth whilst reining in government spending.
“Lack of investment, reflecting uncertainty and lack of confidence, is the biggest weakness in the Australian economy. Finding the right levers to build confidence and encourage higher business investment is critical and recognised by the government in a raft of Budget measures.
“The $5.5 billion Small Business package at the heart of the budget, providing a small business tax cut and immediate depreciation of any asset costing up to $20,000, is an encouraging sign of the government’s focus on building confidence to invest and employ.
“Investment will drive growth and jobs, essential to bring the Budget back to balance. The overarching priority of investment, jobs and growth must be carried through to other critical areas of government policy including foreign investment settings and regulatory reform.
“Consistent with this priority, the additional funding of $30million to attract major foreign investment into priority areas, including food and agribusiness, is welcome, although it must be noted that there is a risk of conflicting messages given the dramatic lowering of foreign investment thresholds requiring FIRB approval in agribusiness.
“This Government has clearly staked its reputation on getting the settings right to kick start growth and investment to drive productivity and competitiveness gains,” said Mr Dawson.
AFGC Media Contact: James Mathews 0407 416 002