Lifting business confidence

THE Chamber of Commerce and Industry Queensland has congratulated incoming Prime Minister, Tony Abbott and the Coalition on its resounding win in the Federal Election.
CCIQ general manager advocacy Nick Behrens said finally there was an end to the considerable uncertainty associated with the Federal Election and predicted a resurgence in business confidence.
“However, this surge will only be long lasting if the Coalition actions all its promises. The challenge before the new Government is to deliver the results that match the strength of the mandate,” Mr Behrens said.
“This result has determined not only the next Federal Government, but also the course of our economy and business conditions over the coming three years.
“There are some very good Coalition commitments for business that will help them grow, compete and employ.
“The Coalition won over business through its promises to scrap the mining tax, scrap the carbon tax and unwind FBT changes as well as reducing the company tax rate to 28.5 per cent,” Mr Behrens said.
“The $6.7 billion commitment to the Bruce Highway as well as $700 million for a second Toowoomba Range Crossing are also great infrastructure commitments for Queensland.”
He said the CCIQ would like to sit down with the Coalition once the dust settles to discuss the possibility of retaining small business assistance measures such as the instant asset write off and accelerated depreciation for motor vehicles.
“Inevitably business concerns with the Fair Work Act must also be addressed,” he said.
Mr Behrens said CCIQ would hold the next Federal Government to account to ensure all election commitments are delivered as promised.
“The business community will measure the newly elected Coalition government on its ability to action promises,” he said.
“To this end, securing a working majority in the Senate is crucial and still not clear. The business community warns that there is a clear mandate from this election and the Australian Senate must accept the will of the people.
“For Labor, it must re-establish its links to the business community and CCIQ extends an open hand to forging those links. “Our Nation will get the best performance from a Government with an effective opposition,” Mr Behrens said.
“For the Coalition Government, it must capitalise on what will be a dramatic improvement in business confidence and steer the nation into what will hopefully be a period of growth and prosperity.”