BUDGET CONCERNS FOR RETAIL INDUSTRY

Written on the 14 May 2014

BUDGET CONCERNS FOR RETAIL INDUSTRY TAX increases in the Federal Budget could adversely impact consumer spending in the retail industry, according to the Australian Retailers Association (ARA).

Executive director Russell Zimmerman (pictured) says the ARA supports the government’s plan to control expenditure, but is concerned some aspects may impair consumer confidence – which has slowly been on the rise.

“We are only just beginning to see retail and the services sector regain momentum after many years in the doldrums.

“It would be a travesty if these tax increases impacted on that recovery to the sector and the services economy,” he says.

It follows the government’s announcement overnight about an incoming debt levy for high-income earners.

Zimmerman says it’s not all bad news for retailers, lauding the abolition of the carbon tax.

“The ARA has long campaigned for the removal of this unnecessary cost burden to retailers and consumers and we are confident the decision to finally remove the carbon tax will be music to the ears of business owners.”

He says the decision to remove $1 billion in red tape each year is another positive note, allowing businesses to “get on with the job”.

“What we need to see now is every effort made not to harm consumer confidence further with a clear long-term plan from government to support consumers through future tax cuts and short-term support from agencies such as the RBA.”

Latest News

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

QUEENSLAND WEATHER UPDATE: MAJOR AIRPORTS STILL IN BUSINESS DESPITE CANCELLATIONS AND DELAYS

DESPITE the storms and flash floods which are continuing to wreak havoc across several Queensland cities and towns...

STARS ALIGN AS GOLD COAST ICON REBRANDS

TODAY marks a shift in the Gold Coast's constellation as the iconic Jupiters Hotel and Casino officially rebra...

OROTON GOES CLICKS AND BRICKS AS PROFITS SLIDE

TWO former Aussie lawyers have turned their passion for fashion into a $15 million dollar international business six ...

Related News

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter