Business confidence and conditions remain high in the Sunshine State

Queensland businesses continue to be among the most confident in the nation about the future, according to the latest National Australia Bank monthly business survey released today.

Treasurer and Minister for Trade and Investment Curtis Pitt said it is encouraging to see that since the election of the Palaszczuk Labor Government, Queensland businesses have had the highest or second-highest confidence rating in the country.

“Queensland recorded the highest confidence rate of mainland states at +13 points which is ahead of NSW on +10 points and Victoria at +7 points.

“As a Government we have focussed on making the right decisions at the right times to stimulate investment and create jobs, which has translated into strong business confidence and optimism about the opportunities that are ahead.”

Mr Pitt said the latest survey showed Queensland’s trend business conditions index was also unchanged in June, at +14.

“The Palaszczuk Government is strongly focused on working with the business community to encourage more opportunities to expand, hire more people and become more profitable,” Mr Pitt said.

“We realise that having a strong, vibrant business sector is critical to the continued success of Queensland’s $320 billion-plus economy.

"Last month’s 2017-18 State Budget includes a range of measures designed to support businesses in every corner of Queensland and further stimulate our economy.”

Mr Pitt said the continuation and expansion of the popular $177.5 million two-year Back to Work and Youth Boost program was one way the Government was supporting employers and jobseekers.

“Already more than 5000 regional Queenslanders have been employed since this program started on 1 July 2016 – well ahead of initial targets,” said Mr Pitt.

“As part of the State Budget, we have not only continued to support Back to Work in regional Queensland with additional resources, but have now opened the program to businesses hiring long-term or young unemployed people in Toowoomba and South East Queensland.”

Mr Pitt said the Government was also supporting businesses through the extension of the payroll tax rebate for firms employing apprentices and trainees.

This initiative sees a doubling (from 25 per cent to 50 per cent) of the payroll tax rebate continue until 30 June 2018.

We also announced a significant capital works program of $42.75 billion over four years.

To further encouraging confidence in Queensland, the government’s infrastructure program and other job creating initiatives in the Budget will support around 40,000 jobs across Queensland in 2017-18.

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