Peak industry body the National Retail Association (NRA) has backed initiatives outlined in today’s Queensland Budget as the state seeks to navigate a strong economic recovery.
The first economic statement by Treasurer Cameron Dick since last October’s election contained numerous announcements aimed at supporting business, upskilling Queensland’s workforce and investment schemes that will drive activity.
NRA CEO Dominique Lamb said that now was a critical time in Queensland’s COVID recovery and that initiatives are needed that support jobs and businesses.
“Small business is the backbone of the economy and provides employment to people of all backgrounds and demographics. Retailers are pleased to see that the Government has opted not to impose any new taxes on the business community at a delicate time in the COVID-recovery phase,” Ms Lamb said.
“We also support the Business Investment Fund and its focus on supporting small business with job creation and innovation,” Ms Lamb said.
“Retail is the largest employer of young people and ensuring that new entrants to the workforce receive comprehensive training is important to preventing a skills gap. The NRA is very pleased to see initiatives in this year’s budget aimed at upskilling Queenslanders and addressing labour shortages.
“Infrastructure spending stimulates economic activity while also providing much needed upgrades that benefit the community. These announcements should keep the Queensland economy ticking along, particularly in regional areas.”
Ms Lamb also said that the Government may need to consider providing greater support to the tourism industry while international borders remain shut. While retailers would have also liked to have seen payroll tax reform pursued.
“Queensland is heavily reliant on tourism and the reality is this part of the state’s economy will continue to struggle until international borders reopen. The NRA would like to see the Queensland Government carefully monitor this situation and provide any necessary support,”
“The Government was right to provide payroll assistance when the pandemic hit last year. Permanent payroll tax reform would remove this costly business expense and make it easier to employ people.”