Package supported
Premier focused on tourism industry ‘brought to its knees’
CIVIC leaders have welcomed the State Government’s $4 billion economy stimulus package, which they say gives business confidence an urgent shot in the arm.
More than $400 million will be spent across the state on road and bridge upgrades, $50 million for tourism and $100 million going to small business grants of up to $10,000 for traders affected by COVID-19.
But Gold Coast Central Chamber of Commerce president Martin Hall said it was critical more detail was provided. “With all the balls which are now in the air, now is the time for much-needed depth and visualisation of how things will manifest to keep doors open and people fed,” he said.
“The chamber is desperate to see more information but we are happy about the grants for small businesses.
“These grants are especially welcome on the back of the woeful business confidence data released this week.”
The stimulus, announced in state parliament yesterday, will see tens of millions of dollars poured into agriculture, fasttracked road and transport infrastructure, manufacturing and boosting the tourism industry, the Gold Coast’s largest employer.
According to data revealed during Premier Annastacia Palaszczuk’s speech, nearly one-third of jobs in accommodation and food services had been lost because of social distancing restrictions introduced in March.
The Premier said small businesses were hurting, with many falling below the $1.3 million threshold for payroll tax relief, including travel agents and tourism operators who had lost their entire income.
The Opposition yesterday slammed the State Government over its handling of the economy, warning that business confidence was declining rapidly. LNP deputy leader Tim Mander criticised the Premier for Queensland being the last state to offer an economic assistance package.
But Ms Palaszczuk warned the worst was yet to come in terms of the economic fallout of the COVID-19 crisis.
“Unfortunately and frighteningly, we haven’t yet seen the worst of the impacts from the global economic turmoil that lays ahead of us,” she said.
“But if we unite and work together to support our fellow Queenslanders and their businesses we can get through this.
“And I want to see us come through this stronger with more jobs in more industries across more regions than we had before.”
She said the devastation facing the Gold Coast’s biggest industry was unbelievable.
“This is an impact I never imagined I would witness in my lifetime,” she said. “History will tell the story of a vital industry – one of our state’s most important industries – being brought to its knees by this unprecedented time.”