Local business owner says budget will be good for region
FOR company director John Madill of Madill Motor Group, the Federal Budget is good news and the region's future is looking bright.
"I think what's great news is the small business tax cut of 1.5%," he said.
Mr Madill runs seven car dealerships at Noosa, Gympie and Forest Glen.
The tax relief won't apply to his own business, which has an annual turnover "well over" the $2 million eligibility threshold, but it will help his customers, many of whom are small business owners.
Their ability to write off expenses under $20,000 is likely to mean he sells more vehicles.
Mr Madill was one of more than 140 people at the Australian Institute of Company Directors Sunshine Coast Economic Forecast Breakfast this week.
Mr Madill's 80-year-old family business had employed three generations, he said.
While unemployment continued to be an issue for the region, home-grown big business like his would continue to employ locals.
He said that while the interest rate cuts imposed by the Reserve Bank were not great news for retirees, the lower interest rate made it easier for his business to plan ahead.
"I know it's not good for retirees and their returns but ...these are the lowest rates I can remember in my 40 years in business," he said.
Mr Madill agreed that tourist dollars would continue to be important for the region's economy.
"I think countries like China are looking at Australia for clean air holidays - for beautiful blue skies and white beaches," he said.
"That's what the Sunshine Coast is best at.
"We have a beautiful home."
Sunshine Coast Business Council chair Sandy Zubrinich said while the economy had "probably bottomed out" the Sunshine Coast was yet to see any tangible pick up.
Ms Zubrinich said it had taken longer than many experts expected for national economies to recover from the Global Financial Crisis.
"The global event that we've just been through, it was very severe and very deep.
"You couldn't really expect to come out of it that quickly - and we haven't," she said.
She said a lack of business and consumer confidence was holding back growth.
"This whole thing about the inquiries into the banks and those sorts of things just make people nervous," she said.
Ms Zubrinich called on the State Government to use the July budget to prove itself to the business community.
"Our government is not doing anything to get the big infrastructure projects happening," she said.
"The longer you delay growth the more expensive it gets to put it in place later on."