Leaders divided

MORE than half (56 per cent) of Queensland’s business leaders believe Australia will be well into 2010 before seeing any major improvement in economic conditions.

A survey by The CEO Institute polled its members — CEOs and leaders of Queensland’s largest private and public companies and professional firms – and found that 78 per cent felt the Federal Government’s stimulus packages were targeted incorrectly.

The CEO Institute’s chief executive officer in Queensland Sue Forrester, says when CEOs were asked where the stimulus should have been targeted, responses were varied. Some of the most common answers included directing stimulus to business and infrastructure rather than individuals and tax concessions including reduction of FBT and payroll tax.

“Many felt the stimulus packages were too retail-focused, with a lot of the money spent going straight overseas. They felt the money would have been better spent on big infrastructure projects of long-term national value.”