BUSINESS OUTLOOK BRIGHT IN SUNSHINE STATE

BUSINESS OUTLOOK BRIGHT IN SUNSHINE STATE

ACTING Premier Andrew Fraser has praised figures from the latest National Australia Bank (NAB) Business survey, showing Queensland enterprises bucked a national trend by recording improved business conditions.

Although all other states deteriorated last month, Fraser says Queensland’s private sector recorded the second highest level of business confidence.

"The NAB also noted a sharp pickup in construction confidence, which it attributed in part to a strengthening outlook for construction in Queensland and progress with the reconstruction effort," he says.

Shadow Treasurer Tim Nicholls says while the NAB monthly business survey results were encouraging, the Chamber of Commerce and Industry Queensland (CCIQ) report released today painted a different picture.

“The CCIQ report shows Queensland small businesses are paying the price, slugged $7 billion in taxes and charges a year, with the cost of State Government red tape increasing (by) more than 30 per cent over the past five years,” says Nicholls.

The Bligh Government claims to have successfully countered difficult borrowing conditions and poor consumer sentiment by maintaining the lowest payroll tax rate in the nation.

“We also have the most competitive overall tax regime for small to medium businesses, as judged by the independent firm, Pitcher Partners,” says Fraser.

"A new business commissioner will start next week to help slash red tape and be a voice for small and medium business – a move endorsed by the CCIQ."

However, Nicholls warns that more tax headaches are on the way.

“Businesses will be hammered again with Labor’s job-destroying carbon tax passing the Senate today and taking effect in less than a month,” he says.

Get our daily business news

Sign up to our free email news updates.

Please tick to verify that you are not a robot

 

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Australian Millennial managers look to offshoring to solve global talent shortage problem
Partner Content
New research reveals that more than half of Australia’s next-gen leaders are cons...
Cloudstaff
Advertisement

Related Stories

Latitude reveals nearly 8 million drivers licence numbers were stolen in cyber attack

Latitude reveals nearly 8 million drivers licence numbers were stolen in cyber attack

The fallout from a cyber attack on personal loans firm Latitude (AS...

BOQ selects chairman Patrick Allaway as new CEO

BOQ selects chairman Patrick Allaway as new CEO

Just four months after Bank of Queensland (ASX: BOQ) announced Geor...

White Lady Funerals owner knocks back $1.8 billion takeover bid from TPG

White Lady Funerals owner knocks back $1.8 billion takeover bid from TPG

Funeral services provider InvoCare Limited (ASX: IVC) has denied TP...

Shining a spotlight on Australia’s ‘hidden gem’: Deep tech

Shining a spotlight on Australia’s ‘hidden gem’: Deep tech

From the creation of WiFi to the cochlear implant, Australian innov...