SMALL BUSINESSES FEELING THE BRUNT OF MORRISON’S FAILURES

15 September 2021

RICHARD MARLES MP
DEPUTY LEADER OF THE AUSTRALIAN LABOR PARTY
SHADOW MINISTER FOR NATIONAL RECONSTRUCTION, EMPLOYMENT, SKILLS AND SMALL BUSINESS
SHADOW MINISTER FOR SCIENCE
MEMBER FOR CORIO

MATT KEOGH MP
SHADOW MINISTER FOR DEFENCE INDUSTRY 
SHADOW MINISTER ASSISTING FOR SMALL BUSINESS 
FEDERAL MEMBER FOR BURT
 
The Reserve Bank of Australia has given its starkest warning that small businesses, which are already on their knees, are bracing for more pain, with growing uncertainty without a plan for the industry from the Morrison-Joyce government. 
 
The RBA Governor, Philip Lowe couldn’t have been clearer about this yesterday, saying that that many small businesses “’are in wait, survive and see’ mode, having experienced a large drop in revenue.”
 
Frustratingly for the millions of small businesses which are faced with the uncertainty of lockdowns, there isn’t a plan from the Morrison-Joyce government about what it will do to help the millions of small business across Australia.
 
Without a plan, Scott Morrison and Stuart Robert are cruelly leaving small business in limbo.

The support to date being offered by the federal government has only been a piecemeal approach for those small businesses which are already being crippled by rolling lockdowns.

The Morrison-Joyce government has been warned by the RBA that there is “a limit to how long (businesses) can wait” for restrictions to ease and the economy to bounce back before they fold.
 
It is clear we need a national approach from Scott Morrison, to provide assurance for more than 2.4 million Australian small businesses.

Without a national approach for small business, uncertainty will remain for the millions of Australians who own, operate and are employed through these various industries.

The Morrison-Joyce government must do more to deliver a timely roadmap and adequate support to help our businesses survive.