The region’s peak business organisation, Business Illawarra, has welcomed the second budget of the Albanese Government, saying that it contained positive measures to address rising costs and pressures for business.
Business Illawarra Executive Director Adam Zarth said that the Budget also contained initiatives
that would support major economic priorities for the Illawarra Shoalhaven, including clean
energy transition and affordable housing.
“Small-to-medium enterprises across our region are struggling with the rising costs of electricity
and gas, and at the same time are keen to become more energy efficient and play their role in
the transition to a net zero economy,” said Mr Zarth.
“The budget contains a series of measures that incentivise them to become more energy
efficient and some will receive direct relief for their power bills. We also welcome the temporary
increase to the instant asset write-off threshold to $20,000, which will encourage small
businesses to invest in their operations.”
“Our region is well-advanced on the path towards net zero emissions and is a major hub for
investment in a range of renewable energy projects. We also are home to heavy manufacturing
and some of the largest emitters in the nation.
The establishment of the National Net Zero Authority will provide clarity and direction to help guide local industry and ensure our transition is undertaken in a manner which grows our economy rather than shrinking it.”
“Local employers are concerned about the critical shortage of affordable housing for their key
workers that is particularly acute in the Illawarra Shoalhaven. We welcome the Federal
Government’s leadership on this issue, and the $2 billion contained in this Budget for affordable
and social housing as a good start.”
“Finally, there is the prospect of major funding for skills, subject to negotiation with the states
and territories, with $3.7 billion set aside for a five-year National Skills Agreement that would
commence on 1 January 2024.”
