New data out today shows business confidence has fallen to its lowest level in six years.
The Government cannot blame plunging business confidence on the bushfire crisis or the Coronavirus when the numbers show business confidence and conditions have been weak for some time now.
The NAB Monthly Business Survey shows that business confidence fell another two index points in December, remaining well below its long-run average, while business conditions fell one index point to be three points below its long-run average.
Business confidence has been weak because the Morrison Government in its seventh year spends all its time spinning, pork-barrelling and playing politics instead of coming up with a plan to support the economy and boost business investment.
When Labor, the business community, the Reserve Bank and other experts are calling out for measured, responsible and proportionate stimulus to support the economy, the Prime Minister and Treasurer just sit on their hands and make excuses.
The Government’s failure to plan means we face the current economic uncertainties and challenges not from a position of strength but from a position of weakness.