Returning to a surplus this quickly is the confidence boost that South Australian businesses need. This budget builds confidence because it brings no new taxes, invests in skills, and commits to putting more taxpayer dollars back into local businesses.
The South Australian Business Chamber Director of Policy and Advocacy Kendall Crowe says delaying some larger, long-term projects has helped return South Australia to surplus quickly, giving the business community confidence.
“Businesses have survived a tumultuous two and half years coping with the pandemic and now face uncertainty around inflation, rising interest rates and increasing costs. No new taxes and no major hikes on fees and charges is good news.
“The Malinauskas Government delivered as expected, based on its health-focused election campaign. Business and industry did not get left out of this budget, though.
“There is good news for skills development which has been a significant challenge for our members since even before the pandemic to get the right skills they need. Long term skill development in South Australia is addressed in this budget with a focus on vocational education in high school, including some regional focus. Shorter-term initiatives include funding for subsidised training in areas of serious skills shortage.
“On behalf of our members and the broader business community, we are particularly interested in the public procurement program. Keeping the greatest proportion of taxpayer dollars in South Australia is extremely important. The budget’s procurement measures are pleasing to see. Not only do they focus on SA businesses winning government work, but they also help businesses get the work in the first place.
“The $100m Economic Recovery Fund to support SA businesses is the most notable allocation, but we await further detail about its distribution.
“Money allocated to regions is always positive. The return of Country Cabinet is a welcome opportunity for regional businesses and communities, and we will continue to advocate for regional chambers to be included. Our members tell us housing is a significant obstruction to bringing workers into the regions to fill jobs. Further budgeted housing projects are pleasing given the tight rental market and increasing house prices.
“Infrastructure funding and additional investment in roads is always good news for local businesses who can benefit from contracts.
“Out of 10, we give this a solid seven as a first-year, new Government budget.”
For more information, visit the State Budget website >
