Nation building and jobs plan
Posted 04/02/2009
The Bendigo Business Council welcomes the Australian Government's Nation Building and Jobs Plan which directs spending of $42 billion to stimulate the economy and to support employment for 90,000 workers over the next two years.
BBC Executive Officer Kevin de Vries spoke of need to protect jobs to prevent social hardship during the global recession. "The risk of increasing unemployment presents a threat of flow-through effects to the greater economy and to our communities at a local level. It is therefore appropriate that the focus of these Government stimulus incentives is the maintenance and creation of jobs."
"The Government incentives offer support for the Australian economy at many levels - schools infrastructure and maintenance, public housing, home insulation, rail crossings, and highways. This will create employment for workers to build those schools, houses and roads, and for the suppliers and companies that support those workers."
"As well as addressing unemployment, the benefits to the community will be economic and social. The Government is providing for a 21st century knowledge economy by investing in school libraries, language centres and science laboratories."
Mr de Vries identified that $2.7 billion of the $42 billion package would provide incentives to business operators. "The Government is providing tax breaks for businesses, particularly small businesses, for the purchase of assets. This will allow businesses to claim the full cost of asset expenditure this financial year, rather than depreciating the cost of these assets over a number of years. For those businesses able to access funding to make asset purchases there will be cash-flow benefits, this may represent an opportunity for business investment.
Mr de Vries said "Overall the breadth of the Prime Minister's announcement demonstrates that there is no single solution that will see Australia through this global economic downturn. Rather, it is important to work together as a community and as a nation to overcome challenges and to identify and take advantage of any opportunities that are present in these changed economic circumstances".
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