The ACT’s peak business group has called on the ACT government to invest in major infrastructure projects and to cut red tape to deliver economic benefits ahead of the next ACT Budget.
The Canberra Business Chamber is urging the government to ensure the Budget prioritises initiatives for the now almost 34,000 local businesses that are managing spiralling costs, falling consumer confidence, workforce shortages, and ongoing supply chain pressures.
The Chamber’s pre-budget submission lists 14 actions that will deliver tangible benefits for the ACT economy, local businesses and not-for-profits (NFPs). Given the fiscal challenges facing governments, 10 of those 14 actions require minimal or no investment, according to Chamber CEO Graham Catt.
“One of the best ways governments can support business is to avoid, or at least minimise, legislative and regulatory changes that add costs, divert precious time from both government and businesses, but deliver no clear benefit,” Mr Catt said.
The ACT Government’s 2022 Better Regulation Report says, “…we want to support businesses to start, run and grow by putting in place better regulatory settings, and simplifying interactions between business and government”.
But, he said, “despite a genuine commitment from some areas, the feedback from local businesses is that across portfolios and directorates, the ACT Government continues to adopt regulation and legislation which creates new requirements and adds cost. We need a whole of government commitment to reducing – not adding to – regulatory burden for small businesses and NFP’s.”
The Chamber has also renewed calls for the ACT Government to invest in major projects including a new convention centre, stadium, and affordable housing.
“Projects like these provide jobs and continue to deliver a significant economic benefit to the ACT economy for many
years to come,” Mr Catt said.
“Our members want to see decisions and action. Let’s make these critical projects part of a clearly articulated infrastructure implementation strategy, and let’s commit to developing business cases in 12 months and having shovels in the ground in five years. This will help attract secure investment in the territory for major hotels and other visitor economy-related infrastructure.”
The Chamber also continues to push for investment in better data to support economic growth, long-term planning, and policies to address issues that threaten the long-term survival of the Territory’s small to medium-sized businesses.
“There is a lack of good data available about how the ACT business community operates, the issues that affect it, and what policy tools will assist the growth of our private sector and specific industries. Government needs a dynamic, research-driven data set if it is to understand the private sector, set policies and measure the impacts of policy and external factors,” Mr Catt said.
