The COVID-19 pandemic and necessary government response impacted Queensland businesses far and wide. Enforced economic and social hibernation forced the collapse of business sentiment in the March quarter of 2021, which fell to record lows. Since then, thanks to eased social distancing restrictions, business sentiment has recovered strongly. However, until COVID-19 is well and truly behind us, Queensland’s economy will continue to operate below capacity.
The future of Queensland’s economic recovery relies on a business-friendly government committed to driving productivity growth. Encouraging a conducive operating environment for business requires announcements of additional taxation incentives, regulatory reform, and a commitment to supporting business assistance officers in the regions. More specifically, CCIQ has prioritised four recommendations as part of our State Budget Submission 2021-2022:
Remove or amend inefficient taxes
- Provide incentives to achieve broader policy objectives, through concessions or waivers for new jobs created by businesses and targeted incentives for those adopting sustainable practices.
- Begin using national cabinet as the forum for advocating for broader reform at a federal level with a focus abolishing payroll tax.
Reregulation and regulatory reform
Build on COVID-19 reforms and streamline/simplify:
- Liquor licensing – close collaboration with local Government to get it done;
- Reducing the complexity and processing times for permits and fees; and
- Address insurance premiums costs for disaster affected areas and businesses.
COVID-19 recovery support
- Commitment to a further three years of grant funding for business support officers across regional Queensland.
Small business procurement
- Break-up tenders for SMEs
- Simplify tender processes
- Dashboard for procurement
- Cut payment terms to 5 days