News & Views

19th March 2020

NECA: Use crisis as an opportunity to support business in the long-term

13 Mar 2020

NECA welcomes the Federal Government’s Economic Response to the Coronavirus, while calling on State Governments to follow suit and urging all levels of Government to use the current crisis as an opportunity to improve legislation in the long-term.

Measures include:

- Delivering support for business investment

- Cash flow assistance for employers

- Stimulus payments to households to support growth

- Assistance for severely affected regions

Suresh Manickam, CEO of NECA, said:

“We welcome the Federal Government’s swift action and urge state governments to follow suit. 

“There is no magical cure for this once in a generation crisis, but the announcement will provide a critical line of defence for the Australian economy, businesses and the apprentices who are the workforce of the future.  

“These short-term measures are important and are rightly the priority, but governments must use this crisis as an opportunity to address longstanding issues that make our small businesses vulnerable.  

“Security of Payment and unfair contract terms continue to blight the construction sector, leaving SMEs particularly exposed to any downturn.  The Prime Minister’s rhetoric has been encouraging and we urge this to be followed up with long-term policies that will ensure small businesses can compete on a level playing field and will be well placed to fend off the next crisis.

“The support for apprentices is very encouraging and will keep people in work, who will be key in rebuilding the economy in the coming months. Again, we need to see this excellent short-term support complemented by longer-term action, particularly to assist mature age apprentices and regional employers.”

Details of the measures introduced by the Federal Government can be seen here: https://treasury.gov.au/coronavirus

Link to Federal Government Stimulus package indusry factsheet.

ENDS

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