PEAK retail industry body the Australian Retailers Association (ARA) said the Reserve Bank of Australia’s (RBA) decision to keep the cash rate on hold at 2.5 percent does little to support consumer confidence and jobs growth.

ARA Executive Director Russell Zimmerman said that despite a small uplift in recent retail sales figures, consumer confidence remains extremely fragile.

“Worsening employment figures are also painting a picture of an economy needing monetary support.

“Lowering interest rates today would have been a supportive step in the right direction for the retail sector and jobs but unfortunately this wasn’t the reality.

“Given the current fiscal tightening of the economy to balance the budget, retailers believe the RBA will need to continue to support the economy via low interest rates for some time. The RBA remains one of the few central banks able to offer that support to the economy globally.

“There were some signs of life for the retail sector in the 2013-14 financial year, however, this activity has been short lived and extra stimulus is now needed for the consumer-lead economy.

“It is imperative that the RBA do all that it can to ensure that retail trade does not suffer as we gear up toward the spring/summer racing season and also the Christmas trading period.

“With the festive season right around the corner, retailers are beginning to invest in new marketing strategies and have also begun hiring Christmas casuals. The cost of doing business is increasing daily. Now is the time for the RBA to lower interest rates and aid retail growth,” Mr Zimmerman said.

Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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THE peak representative body for the Queensland resources sector said the Senate report into the Great Barrier Reef backs the work that is well under way to improve reef health.

Queensland Resources Council Chief Executive Michael Roche said the report published 29 recommendations that largely reflected the work of a host of stakeholders on the Reef 2050 Long-Term Sustainability Plan. 

‘We thank the Senate for its comprehensive inquiry into the Great Barrier Reef that adds to the pool of evidence and information that is aiding in the rehabilitation of the reef against its biggest threats,’ Mr Roche said.

‘We also fully support increased resources being directed towards management of the reef, however we do not support any blanket ban on dredge spoil disposal at suitable locations at sea.

‘While the blame for the degradation of the reef has been unfairly heaped upon the ports and shipping servicing Queensland’s minerals and energy producers, containing the managed expansion of Queensland ports to meet the demand of trade markets will not make a difference to the frequency of storms, starfish outbreaks or the terrestrial water run-off that scientists agree are responsible for the current health challenges for the reef.

‘The draft Reef 2050 Long-Term Sustainability Plan, soon due for release, is a comprehensive action plan that has been put together by all relevant stakeholders from state and federal government, scientists, industries including, agriculture, tourism, resources, ports and fishing, as well as NGOs including WWF.

‘We are part of a team that is working together to help the reef and I am pleased to say that most of the recommendations in this report are already in train,’ Mr Roche said.

Despite most of the recommendations aligning with current work across the reef stakeholder group, Mr Roche said it was unsurprising that Labor and the Greens had taken a negative stance against the one stop shop for environmental approvals.

'Opposition to the one stop shop flies in the face of report after report backing this important reform.

‘We welcome the Coalition’s stance to support the reforms to the EPBC Act that will streamline approvals processes between state and federal governments,’ Mr Roche said.

Mr Roche said that a ban on at sea disposal of dredge spoil made no environmental sense.

'Every project must be examined on its merits given that land based options are sometimes simply not viable where adjacent coastal lands may have high conservation or cultural value.

‘The challenge is how well we manage the reef for positive economic and environmental outcomes and to work together, as is being done through Reef 2050 Long-Term Sustainability Plan.'

www.qrc.org.au

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VECCI Chief Executive Mark Stone said the release of Tourism Research Australia’s International Visitor Survey results highlights the need for both major parties to commit to expanding the Melbourne Convention and Exhibition Centre.

"Tourism Research Australia’s International Visitor Survey shows that for the year ended June 2014 in Victoria, visitor numbers increased 11% to 2,049,000 and expenditure increased 8% to $4,886,000," Mr Stone said.

"This growth exceeded that of the nation as a whole, where visitor numbers increased by 8% to 6,147,000 and total trip expenditure increased 7% to $30,101,000.

"The number of visitors traveling to Australia for the purpose of business is unchanged on the previous year at 822,000.

"It’s positive to see visitor numbers and expenditure increasing for Victoria overall, but growing business visitation must be a priority."

VECCI’s 2014 state election agenda, Taking Care of Business, calls for both major parties to commit to expanding MCEC to take advantage of the lucrative business events sector.

"MCEC currently turns away 17% of potential new events due to capacity constraints," Mr Stone said. "The $300 million investment in the expansion is estimated to generate an excellent return to Victoria of $150 million annually through its contribution to the state’s business events sector."

The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the peak body for employers in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

vecci.org.au

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AUSTRALIAN cricketer-turned-entrepreneur Matthew Hayden will address a business lunch on how to turn new business ideas into action in Roma tomorrow as part of 2014 Queensland Small Business Week.

Minister for Tourism, Major Events, Small Business and the Commonwealth Games Jann Stuckey MP hosts the event at Explorers Inn, Roma at 12.30pm on Friday 5 September.

Ms Stuckey said the event was the final in five major activities held across Queensland celebrating the role of small business in the state’s economy.

Mr Hayden is joined by Roma business owner Mark Huntley from Pumps N Solar and Ben Sorensen from PwC (PricewaterhouseCoopers) to discuss how small business can evolve to meet new demands.

Ms Stuckey also invited the Roma business community to pledge their support for small business by sharing the “I’m celebrating Queensland Small Week” badge which is available for download on www.business.qld.gov.au/smallbusinessweek, and to take part in Buy Locally Saturday on 6 September.

“Buy locally Saturday is about supporting local small businesses and boosting the local economy,” she said.

“I encourage all business owners to display the Buy locally Saturday material in their businesses.”

“2014 Queensland Small Business Week recognises the contribution of small business to creating a positive impact on local communities and their economy. You get great customer service and unique products when shopping at a small business.”

2014 Queensland Small Business Week runs from 1-6 September and celebrates the role small business plays in the Queensland economy. 

www.business.qld.gov.au/smallbusinessweek

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