The Federal Government’s 2014-2015 budget has been welcomed by Printing Industries for providing certainty over the government’s economic policy direction and the likely impacts on business and consumer spending.
Printing Industries CEO Bill Healey said the budget sought to establish a road map for a sustainable Australian economy by imposing short term pain on everyone for long term gain.
“The burden of repairing the economy will be shared across the whole community,” he said.
“It should restore business confidence, drive investment and create jobs.
Mr Healey said the massive infrastructure Growth Package will take the Government's infrastructure investment to $50 billion by 2019-20 and total infrastructure investment from Commonwealth, state and local government and the private sector to $125 billion by 2019-20.
“This not only will this create jobs, but it also helps builds confidence in the economy and Australia’s future as we transition away from resource investment led growth."
Mr Healey particularly welcomed the cutting of the company tax rate to 28.5%, scrapping of the Carbon Tax, establishment of the Small Business Ombudsman and subsidies for business to employ older workers as positive initiatives for printing industry companies.
“While the budget forecasts show that business can expect difficult economic conditions for at least another 12 months, GDP growth is estimated at 2½ per cent in 2014-15, rising to 3 per cent in 2015-16.
“With everyone sharing the load, we are on a pathway of challenges and change that our industry knows only too well.
“However, last night’s budget has faced up to many of the long-term structural challenges confronting the country and set about addressing them in a fair and comprehensive way,” he said.
Printing Industries Association of Australia
www.printnet.com.au
