Media Releases

BUSINESS BACKS LABOR ON INVESTMENT BOOST

January 21, 2020

Today the Australian Industry Group has strongly endorsed Labor’s proposals for a tax incentive to stimulate business investment which is at three-decade lows under the Morrison Government.
 
The AI Group proposal mirrors the Australian Investment Guarantee Labor took to the election and is consistent with our calls over the past six months for a policy along these lines to be brought forward ASAP to get the economy moving again.
 
A stunning indictment of the Coalition’s failures on the economy is that business investment is down 20 percent since it came to office in 2013, and is now at its lowest level since the 1990s recession.
 
The Morrison Government has no plan for business investment and no plan for an economy which has been floundering for some time on its watch.
 
Australian workers and employers are paying a hefty price for the inaction, ineptitude and incompetence of Scott Morrison and Josh Frydenberg.
 
When Labor, the business community, the Reserve Bank and other experts are calling out for measured, responsible and proportionate policies to support the economy the PM and Treasurer just sit on their hands and make excuses.
 
Once again we call on the Government to put in place a tax incentive for business investment along the lines of proposals first put forward by Labor, and now also by the Australian Industry Group.
 
The Australian economy was already floundering before the fires hit, and this week’s Deloitte Access Economic report forecast things won’t get much better this year for Australian workers and families.
 
This is what happens when a Government in its seventh year spends all its time spinning, pork-barrelling and playing politics instead of coming up with a plan to boost investment and meet the big, neglected challenges in the economy.

TUESDAY, 21 JANUARY 2020

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