The Canberra Business Chamber has welcomed support for small businesses in the sectors most impacted by COVID 19 in this week’s ACT 2021-2022 budget, but says more is still needed.
CEO Graham Catt noted there was new funding to support the tourism, events, and the arts sectors: a $41 million package for key industries and $20 million for the tourism and arts sectors.
“But,” Mr Catt said, “there is little for the many businesses in other sectors who will need additional financial help to survive as business support payments are withdrawn and the economy slowly reopens over the remainder of 2021.”
In his budget speech, Chief Minister Andrew Barr only mentioned business twice, in the context of the investment made in support, Mr Catt remarked. “There is no specific mention of the thousands of small businesses who are critical to the territory’s recovery and growth.”
The ACT Government said it would provide $8 million for business recovery and $146 million in support payments for businesses impacted by COVID-19, as well as initiatives to support local business innovation and development, and funding through the Future Jobs Fund.
Mr Barr also announced the largest infrastructure program in the ACT’s history: a $5 billion pipeline of local infrastructure projects that he said would keep the construction sector busy for four or five years.
But the Chamber was concerned that this investment would not find its way to local business without changes to procurement policies, Mr Catt said.
“Skills and labour shortages are a huge problem for ACT business and a handbrake on economic growth,” Mr Catt said.
The announcement of $320,000 to develop a strategy to attract workers to specific industries was a welcome initiative, he thought, but more needed to be done.
“The Chamber has consistently advocated for a clear plan for future workforce needs, based on a future vision of the number and nature of Canberra businesses. Significant investment is needed, along with clear targets for growth across industry sectors, developing education and training in the ACT, as well as strategies to attract skilled people in specialist areas.”
For more news:
