State Budget: Critical need to relieve businesses from historically high pressures
The upcoming State Budget must deliver on an urgent need for a long-term strategy to improve the Queensland business operating environment.
Business Chamber Queensland’s State Budget FY25 submission calls for measures directly reflective of the needs of Queensland businesses and provides a timely view of interventions to alleviate day-to-day business pressures and prepare businesses for long-term viability and sustainability.
“This is a critical budget for business,” CEO Heidi Cooper said.
“We’re seeing a stretched and stressed business community in Queensland.
“It’s really important to recognise the same cost-of-living issues that are being experienced in the community are also being experienced by businesses.
“The same pressures that are being experienced around the kitchen table are also being experienced around the business table.”
Ms Cooper said persistent daily pressures like record high operating and labour costs and ongoing workforce challenges were compounding in a restrictive regulatory and employment environment.
“The result is weak confidence in the future of the state and national economies, poor business investment and capital expenditure, stagnate productivity and weak profitability,” Ms Cooper said.
“We haven’t seen some of these pressures since the depths of the COVID economic crisis, or even the global financial crisis.
“These pressures can’t be ignored and we’re looking to the State Budget for businesses to be front and centre.
“Queensland businesses are telling us they are looking for genuine relief – relief from record high costs, an ongoing tight labour market, a restrictive employment landscape and a tough regulatory environment, all compounding to put pressure on productivity and confidence.
“Businesses want to see a business-friendly government with a genuine commitment to relieving immediate operating costs and reducing regulatory burden as well as a business environment which supports employers to grow their workforce and improve productivity.
“Most importantly, businesses want the confidence to invest in the future.”
Ms Cooper said these priorities all formed part of the Business Chamber Queensland State Budget submission which was developed using business insight through direct engagement with the state’s business community.
“Through our extensive engagement with the state’s businesses, we know what businesses need to manage day-to-day pressures and plan for long-term productivity,” Ms Cooper.
“Business knows business best, and we’ve captured the highest business priorities for now and in the future, the outcomes businesses will be looking to the government to deliver in this budget.
“The risk of missed opportunity in Queensland in the lead up to and beyond 2032 is significant.
“Together with the state’s business community, we are looking to next month’s budget to get the fundamentals right, to provide the critical measure for businesses to manage day-to-day and plan for their long-term investment.”
Download Business Chamber Queensland’s State Budget FY25 submission.