Banking on a boost in confidence

GOLD Coast business operators yesterday welcomed the personal tax cuts in the federal Budget, even if they’re just $10 a week for some families. The centrepiece of a

$13.4 billion cut to income taxes in Tuesday’s Budget is a $1000a-year cut for working couples. “I know you can say jokingly it represents two cups of coffee, but I’d say spending money on two cups of coffee is great,” said Gold Coast Northern Chamber of Commerce president Gary Mays (pictured). “It’s when people stop spending everyone can hurt.”

The greatest challenge for business operators in the fastgrowing north of the city is finding suitable labour. “There’s businesses who would employ more people, but there’s a shortage in the trades,” Mr Mays said. “Apprenticeships got priced out of the market. No one trains apprentices because they can’t afford them.”

But the general mood at a networking function staged on Federal Budget night was upbeat, Mr Mays said. Southport Chamber of Commerce president Laird Marshall is not as convinced after the experiences of some traders during the Games. “I don’t think it’s high (confidence). It’s just medium. There’s nothing tremendous,” Mr Marshall said. “There’s no real fixer in the Budget. There’s bits and pieces in there. There’s no (real taxation) reform. There’s nothing serious about getting rid of the deficit.”

Mr Marshall admitted expectations among businesses had increased before the Games as the Chamber spent money on promoting events to attract outside operators.

He said Griffith University had been among the winners from the Games but other, smaller operators failed to benefit. “It’s back to the real world now for most businesses. The real estate operators keep saying it is strong, but there are places still for sale,” he said.

“I don’t think the market is as busy as a lot of people with vested interests are saying.”