Stimulus package will help secure Aussie food and grocery manufacturing jobs
The Australian Food and Grocery Council (AFGC) has applauded the Federal Government for its fast-tracked and generous economic stimulus package, announced today in response to the unprecedented coronavirus pandemic.
The nation’s food, beverage and grocery industry – Australia’s largest manufacturing sector – will benefit from the package, which will help keep operations and jobs in Australia.
“Our sector plays an integral role in Australia’s economic and social fabric, with an annual turnover of $122.1 billion,” said AFGC Acting CEO, Dr Geoffrey Annison.
“The sector employs more than 273,300 Australians, representing almost 40 per cent of total manufacturing employment, and it is also the lifeblood of many regional and rural communities, where 39.3 per cent of these jobs are based.
“Coronavirus, the devastating summer bushfires, years of drought and tough domestic and international trading environments have had a negative impact on the sector, which has seen a downturn in investment.
“The Federal Government’s package – notably the accelerated depreciation scheme, instant asset write off for companies with a turnover of up to $500 million, and wage assistance for apprentices and trainees working in small businesses – will help the food, beverage and grocery sector continue to remain viable during this difficult period.”