The Australian Institute of Company Directors’ latest report has revealed widespread concern about the Morrison Government’s “snapback” strategy and its lack of a plan for the recovery.
Scott Morrison’s intention to suddenly withdraw support to workers, businesses and households will cost jobs and leave even more Australians behind.
The report highlighted that out of the more-than 2,300 company directors surveyed:
- “81 per cent indicated they would prefer to see a cautious phasing out of stimulus policies such as JobKeeper and the Coronavirus supplement, rather than a rapid wind-down.”
- “more than two-thirds (68 per cent) would like the Federal Government to radically rethink its agenda and develop new policy priorities in a post-COVID-19 world. Respondents were from across the listed, large private, SME, public and NFP sectors.”
- “As we navigate our way through the COVID-19 recovery phase, it’s clear that going back to pre-pandemic policy settings won’t increase business confidence, strengthen social services or boost the economy.”
The less done to protect jobs and support vulnerable workers, business and communities in the coming months, the harder and longer the recovery will be.
Having introduced support for the economy too narrowly and too slowly, Australians can't afford for the Government to withdraw that support too quickly or too bluntly.
Australia desperately needs an effective, well-executed response to this crisis, and a plan that bolsters the recovery and sets Australia up for the future.
Australians have worked together to combat the virus, but more work must be done by the Morrison Government to ensure that our hardest-hit Australians are not left out and left behind in the recovery.
THURSDAY, 11 JUNE 2020