RETAILERS TO WORK WITH GILLARD GOVERNMENT

Written on the 14 September 2010

RETAILERS TO WORK WITH GILLARD GOVERNMENT

PEAK retail industry body the Australian Retailers Association (ARA) expects consumer confidence to return once the formation of a new Gillard minority government is fully consolidated.

Following two and half weeks of hung parliament, ARA executive director Russell Zimmerman says it is now up to the re-elected Labor Government to announce its front bench as quickly as possible.

“To minimise the lack of consumer confidence caused by political uncertainty, the ARA would like the announcement of new ministries and departments as well as any changes to parliamentary process under a minority Government to be made sooner rather than later,” says Zimmerman.

“Retailers and the wider business community, including small businesses, expect thorough consultation before major government decisions are made and the ARA looks forward to working closely with the new Government and the Greens, who now hold the balance of power in the Senate.

“The ARA expects the new minority Gillard Government to always give ample consideration to the important role the retail sector plays as Australia’s largest employer and the role small business plays as the engine room of the nation’s economy.

“Similarly, retailers would expect the Greens to use their balance of power in the Senate to ensure small and independent businesses are given political clout over any negotiation of legislation in the Senate.”

Earlier in the day, the retail body applauded the Reserve Bank’s decision to hold interest rates at 4.5 percent.

Zimmerman says the decision allows time to assess consumer reaction to the new minority Government and subsequent changes to parliamentary process.

“Traditionally consumers react to any political uncertainty by keeping their wallets closed and Australians haven’t seen a minority Federal Government since the 1940s, so we need time to assess how they will react to these unique political circumstances.

“The apprehension consumers have had to spend in retail during the past two and a half weeks of hung parliament may continue while the new minority Government irons out changes to parliamentary processes.”

Queensland retail growth improved by 1.5 per cent over the month from June to July, but according to the ARA it’s not good enough to indicate that consumer habits are bouncing back.

Across all states the figure was 0.7 per cent given negative growth in WA, the ACT and Tasmania. The sunshine state recorded second highest growth behind Victoria at 1.7 per cent.

Zimmerman says the ABS July retail trade figures show that retail trade is encouraging but it’s not enough to suggest that retailers are out of the woods.


Latest News

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 ...

MANTRA'S SHARE PRICE SURGE INDICATES 'SUITORS ARE CIRCLING' THE HOTEL GROUP

THE rumour mill surrounding a high-level takeover of Mantra Group (ASX: MTR) is in full production with its shares su...

MELBOURNE CBD GEMS SELL FOR $17 MILLION, MARKING A NEW PROPERTY HOTSPOT

LITTLE Lonsdale Street in the heart of Melbourne's CBD has become a favourite for investors in 2017, following th...

CAN GOOGLE RECOVER FROM GLOBAL CONTROVERSY OVER ITS PROGRAMMATIC ADVERTISING SYSTEM?

IT'S the story that has rocked the world of advertising. The lucrative Google (NASDAQ: GOOGL) advertising system ...

Related News

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...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

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