A budget to support business recovery and growth: CCIQ
The 2020 Federal Budget delivers financial incentives and support to businesses while highlighting their extreme importance to Australia’s economic recovery said the Chamber of Commerce and Industry Queensland (CCIQ).
Treasurer Frydenberg’s budget unveiled details that will boost business confidence through, wage subsidies, tax breaks and future-focused investments said CCIQ’s general manager of advocacy and policy, Amanda Rohan.
“As the Treasurer said, the more people in jobs, the stronger the budget position, and we know it’s small and medium businesses who hold the key to creating jobs now and into the future,” said Ms Rohan.
“We welcome the support to SMEs to employ new staff and invest in training and upskilling through subsidising wages. Businesses have no future without a capable and skilled workforce to drive them forward.
“What will also boost local small business is the announced personal income tax cuts, which will help drive consumer spending, which ultimately if spent in local communities will drive and revive local economies.
“Additionally, we welcome the measures to build resilience into our economy through $250 million in modernising recycling infrastructure.
“Amongst CCIQ’s election priorities is recognition of the future industries such as resource recovery and recycling have.
“It’s this circular economy that will accelerate business adoption of sustainable practices, which will allow businesses to scale up and grow.
“Further funding and focus for water infrastructure is a smart investment to build resilience into the Queensland economy, which is needed to secure Queensland’s economic growth into the future.
“The 2020 budget has delivered some sound announcements and ones which will support Queensland small and medium businesses to drive our economic recovery.
“However, to maximise these announcements, it’s vital the next elected Queensland state government back them up by committing to CCIQ’s election priorities.
“For Queensland businesses to diversify, scale-up and grow, they need business friendly policies, which support smart infrastructure and sustainable practices while creating a skilled workforce, that is how we will secure Queensland’s future,” Ms Rohan said.
CCIQ's election priorities can be found here https://bit.ly/3irU3c5