Positive response from business
Welcome to the March issue of xpress.
Business SA received a very positive response following the release of our major pre-election policy document, A Charter for a Prosperous for South Australia.
Successfully launched at a business lunch attended by almost 600 people last month, the Charter was applauded for its forward-thinking recommendations that target crucial issues to drive the State’s economic prosperity over the next decade.
We have also welcomed the constructive debate which we hope will continue in the lead up to the State election on March 20. There is a full round-up from the Charter launch in this issue of xpress.
Following the announcements from both major political parties to address land tax if elected, it was pleasing that the Opposition has also pledged to provide payroll tax relief and we hope the Government follows in the same direction.
Business SA provided leaders of both major political parties with a copy of the Charter in order to respond to our recommendations.
The Labor Party agreed or provided in-principle support for 80 per cent of Business SA’s recommendations, while for the Liberal Party this figure was 70 per cent. Some areas remained under review for both parties.
The upcoming election is making March an even busier month than usual.
It’s a wonderful time of year here in South Australia with the spectacular festival season, the Clipsal 500, Adelaide Cup Carnival and this follows the range of other concerts and sporting events we’ve been exposed to in the last couple of months.
The local economy continues to emerge from the economic downturn in relatively good shape and some of the recent data will reassure many businesses of the resilience of their own operations and that of South Australia’s economy.
This month’s decision by the Reserve Bank will do nothing to encourage consumer spending and this is not good news for local businesses.
It is also clearly evident that the banks need no encouragement to raise interest rates and this latest rate rise will put another dent in the fragile economic recovery.
The Commonwealth Bank Business SA Survey of Business Expectations for the March quarter is now open and I encourage all businesses to take part and provide a clear indication of the performance of the local economy.
The recent March networking event at the Clipsal 500 was a great success and provided a wonderful atmosphere with a large number of Business SA members in attendance. There will be a full wrap up of the event in next month’s issue of xpress.
It’s another busy edition of xpress as we have a look at the assistance being offered from Business SA and we also catch up with a couple of Business SA members.
Peter Vaughan
