OLD PAGES > Business Welcomes Iemma’s Economic Statement - 23 Feb

The Illawarra Business Chamber has welcomed the release of the Economic Statement by Premier Iemma.

“We are impressed by this Statement as it clearly acknowledges the concerns of business.

“Today’s announcement represents a serious plan by the Government to get the finances of NSW in order and to remove many of the impediments that are hindering the economic development of NSW”, said Mark Grimson, Chief Executive Officer of the Illawarra Business Chamber.

“NSW has been in the slow-lane of the national economy for too long and the Economic Statement addresses many of the key issues that have made NSW uncompetitive.

“That is not to say that the benefits of this Economic Statement will be immediate. Indeed, there are still some rocky days ahead for the NSW economy. However, the Government has made a start at turning the NSW economy around with cuts to workers compensation premiums, reviews into red tape and scrapping the vendor duty.

“The Economic Statement represents a significant directional change for the Government and Premier Iemma should be commended for today’s announcement.

“Cuts in expenditure by about $2.5 billion over the next four years are in line with the IBC and ABL/State Chamber’s Kickstart NSW initiative.

“The $90 Million Payroll Tax package targeting businesses that relocate from interstate or expanding businesses paying payroll tax for the first time is a very welcomed initiative.

“The Audit also acknowledged many of the issues raised by the Kickstart NSW document including scrapping the unattached list, reforming pensioner concessions, reining in the School Student Transport Scheme and consolidating agencies such as the Office of Women and the Community Relations Commission.

Also welcomed is the decision to rapidly expand the role of the Department of State and Regional Development.

“The fact that the Premier has also made himself Minister for State Development is symbolically important.

“We still have issues on the table such as changing the current OH&S regime in NSW and cuts to payroll tax and further reductions in workers compensation, however, we have seen a change in direction in recent months by the NSW Government and this is welcome.

For more information contact Mark Grimson on 0409 155240