From a Chamber perspective we are hopeful that the Federal Budget will recognise that now is not the time for fiscal responsibility. Notwithstanding the big spend and debt levels required with stimulus during COVID, now is the time for the Federal Government to lead by example and genuinely use the opportunity to not only recover from COVID but to stimulate a rebuilding of a more robust and stronger lucky country.
We would like to see the Government activating infrastructure and Defence projects that engage local businesses. Catalyst projects and leadership would encourage local manufacturers, supply chains, and logistic businesses to start-up, and to grow here and even encourage others to relocate to Townsville and surrounding regions. The certainty that the Government is prepared to decentralise decision-makers to the regions and activate large scale infrastructure projects is vital to ensure the nation is well connected and that our region can continue to grow and become more resilient.
Chamber are eager to see the removal of disincentives and risks and encourage an insurance reform to reduce the risk and premium costs of doing business in the North and enable businesses in Townsville and surrounding regions to support the Government’s efforts to stimulate the economy.
We need to demonstrate that lessons have been learned through COVID and as a Nation, together, the Government and the Business community in Townsville are prepared to change, to take unprecedented steps to become more resilient to natural disasters, global crisis and volatility in the future.
The Chamber will be looking for opportunities for businesses to develop and grow, such as; Instant asset write-offs, Cash-Boost Stimulus and Low-Interest Rate Loans. Each of these incentives has helped businesses to continue operations. Rather than a sugar hit, they have proven to provide a leg up, without creating a dependence on further stimulus. What was used by organisations to survive could now be used to help businesses to make necessary changes to their operations and grow.