COALITION OUTLINES POSITIVE VISION FOR BUSINESS
May 2024
Read MoreNSW Treasurer Daniel Mookhey and the state government have delivered a budget strong on housing, energy and regional NSW.
Business NSW, the state’s peak business group representing almost 50,000 businesses, says this budget is fiscally responsible and predicts a much-needed surplus next year.
The budget also delivers big on housing across our state – a key issue for business.
“There have been large investments in housing, regional NSW and the energy transition, which will assist businesses in getting the workers they need, help regional communities thrive and keep energy costs lower,” Business NSW CEO Daniel Hunter said.
“We are encouraged by the proactive measures outlined by the government to begin the work of solving the state’s housing crisis.
“The government’s adoption of many of Business NSW’s housing policy suggestions – via the Housing Now! alliance – is proof of that.
“The NSW Government must be commended for following through on their promise of no new business taxes.
“It is crucial the government ensures businesses remain free to do what they do best – employ people, innovate, and grow the wealth of our great state.
“To keep our home-grown entrepreneurial talent in NSW - and to compete with both other states and globally - requires access to venture capital, a highly skilled workforce, productivity enhancing infrastructure, a pro-growth planning system and competitive business tax regime.
“Business – especially family-owned firms and SMEs – need support to keep delivering local jobs in the face of tough economic conditions.
“It is welcome news that the government expects to return to surplus next year (2024-25) with a $844 million surplus.
“It's important the public sector wage rises, both now and in the future, must be linked to productivity across the economy.
“Looking to the next budget, we need to keep NSW the number one state to start, own and run a business.”
Key business measures announced in the budget: