Latest News

Ai Group package helps industry weather the storm

The Australian Industry Group (Ai Group) has released a package of fiscal measures designed to help local companies emerge stronger from the global economic crisis.

The package — Managing Through Troubled and Unpredictable Times and Emerging Stronger — was provided by Ai Group to the Federal Government and proposes a range of measures to address the financial fall.

“The organising principle of the submission is that we should aim to align as best we can the necessary shorter term economic stimulus with the longer term imperative to support productivity and growth,” said Ai Group chief executive, Heather Ridout.

“2009 is going to be a difficult and unpredictable year. The deterioration of global conditions and the sharp slowdown in the domestic economy call for an additional fiscal stimulus of at least the magnitude provided by the Government’s Economic Security Package announced in October 2008.

“In the face of the exceptional level of uncertainty, the Government needs to retain a high degree of agility over the timing and extent of policy initiatives. An announcement of additional fiscal expansion need not wait until the May Budget should conditions warrant earlier action. Moreover, further stimulatory measures may be required over the course of 2009-10.”

Send this to a friend