After 12 months of support through the COVID pandemic with schemes such as JobKeeper and many localised and targeted initiatives including emergency cash grants and payroll tax waivers, Business SA, South Australia’s independent Chamber of Commerce and Industry, is calling on the State Government to further support sectors still impacted by COVID-19 in the next State Budget with a suite of recommendations sent to the Premier and Treasurer last week.
Although we have a vaccination program underway, and no local cases of the virus Australia wide, South Australian businesses are subject to many restrictions, including border closures, that that through no fault of their own reduce their ability to trade to full potential full capability.
To stimulate the economy and continue support for impacted organisations, Business SA has recommended:
1. Implementation of a funding mechanism to support South Australian SME’s through future periods of severe restrictions associated with uncontrolled COVID-19 outbreaks.
2. Launch an Events, Arts & Live Performance COVID de-risk fund to encourage development across this sector, reaffirming South Australia as the Festival State.
3. Extend temporary payroll tax waivers for those businesses still most acutely impacted by COVID-19 restrictions, including border closures
4. Introduction of a temporary waiver on stamp duty for business insurance policies across industry sectors most constrained by ongoing social distancing rules and border closures.
5. Introduction of an Autumn/Winter hospitality and recreation voucher scheme for the Adelaide CBD.
Martin Haese, Business SA CEO, says “We cannot forget that many businesses are still hurting, and still at risk of foreclosure as a result of the pandemic. This State Budget must reflect those still needing a helping hand, until such time as we are living without government-imposed restrictions”.
“Since the Parafield Cluster, Australia has experienced snap lockdowns across Queensland, New South Wales, Western Australia and Victoria. Subsequently, each of these governments have crafted a unique response to support impacted businesses” – Business SA wrote in their State Budget request submission last week.
Included in their recommendations, Business SA also highlighted the opportunity for the State Government to introduce a Circular Economy Procurement Fund to drive development of markets for high value-added recycled products within South Australia.
Martin Haese, Business SA CEO, says – “South Australia has considerable expertise in water, waste and recycling. The circular economy can translate into jobs and opportunities for South Australians."
“Following recent significant investments in renewable energy, the Government should commit $50 million dollars to a sustainable procurement fund to allow State Government entities to access additional financial support to purchase recycled products and materials as a stimulant for demand” – said Mr Haese.
According to Green Industries South Australia, developing the circular economy will lead to jobs creation and greenhouse gas reduction benefits. It could create an additional 25,700 full time equivalent jobs and reduce South Australia’s greenhouse emissions by 27 per cent. This forms one of twelve requests made by Business SA ahead of its announcement of an exclusive State Budget Luncheon event on Friday 25 June with special guest speaker, Premier Steven Marshall.
To arrange an interview please contact Anthony Caldwell on 0421 508 075.