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Business welcomes calls for tax relief, but more help is needed

09 February, 2009

New South Wales’s leading business organisation the NSW Business Chamber has strongly welcomed calls for further tax relief for the state’s businesses, but measures to help stimulate the NSW economy must not stop there.

“Further cuts to payroll tax would be a good start, but we’re calling on both sides of politics to consider a wider package of concrete measures to kickstart the NSW economy”, NSW Business Chamber CEO Kevin MacDonald said.

“Tax is not the only issue facing the state’s businesses in these turbulent economic times and we’d urge the State Government to consider fast-tracking the planned rollout of infrastructure to help stimulate the NSW economy and boost job security.

“NSW businesses are growing increasingly frustrated at the state’s infrastructure deficit and expediting expenditure on key projects would help in kick starting construction activity and providing jobs for thousands of NSW residents.

“It’s also of great concern to see reports that some hospitals in western New South Wales are being refused credit by local businesses that are owed money by the Greater Western Area Health Service.

“On time payment of bills by government agencies is critical to small and medium size businesses that are already doing it tough in the credit squeeze.

“Payroll tax is a tax on jobs and a disincentive to business to keep hiring.

“While we acknowledge that the State Government is cutting payroll tax to 5.5% by 2011, further relief would be good for business, good for NSW and good for jobs.

“NSW employers are doing it particularly tough at the moment and they are looking to their elected leaders to provide constructive, prudent and responsible measures to ease the pressure on their businesses.

“NSW businesses are resilient, but with the state’s economic growth now in reverse, consumer confidence in decline and business battling tighter credit conditions, employers need encouragement to continue the great job they are doing in providing jobs", MacDonald said.

The NSW Business Chamber represents 30,000 businesses and is affiliated with more than 120 Chambers of Commerce.

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