New data released by the Toowoomba Chamber of Commerce today is further evidence that our local businesses are doing it tough under the Albanese Labor Government.
The Toowoomba Business Performance Sentiment Index has fallen into negative territory to -28, indicating a sharp decline in business confidence across the region.
Compliance and regulatory costs are the number one concern, with 35% of Toowoomba businesses reporting negative impacts. Moreover, national economic conditions including the rising cost of living continue to fuel anxiety, as businesses struggle to navigate a sluggish economy.
Federal Member for Groom, Garth Hamilton, congratulated the Chamber for their work and expressed deep concern over the findings.
“The data released today paints a bleak picture of life under Labor. Our small businesses, which are the lifeblood of our local economy, are under immense pressure, with Labor’s higher taxes, more red tape and regulation and draconian industrial relations laws ,” Mr Hamilton said.
“Since Labor came to power, real disposable income has fallen 7.8% per capita. This drop in purchasing power means families have less to spend, and our businesses are bearing the brunt of this every day.”
“Under Labor’s watch, we have seen productivity fall by 5.2%. This is not just a statistic – it’s a reflection of the real challenges our local businesses are facing,” said Mr Hamilton.
Mr Hamilton was pleased to welcome Todd Rohl, CEO of the Toowoomba Chamber of Commerce, to Parliament House this week, to discuss these issues with the Deputy Leader of the Opposition and Shadow Minister for Small and Family Business, Sussan Ley.
“The feedback from the Chamber of Commerce is clear: current economic policies are not working. We need urgent action to cut red tape, reduce regulatory burdens, and drive our economy,” Mr Hamilton said.
“Labor’s inaction on these issues is hurting business investment, growth and standard of living. We need a government that understands the realities in our economy and is willing to implement policies that will drive prosperity in the regions,” Mr Hamilton said.
ENDS.
Media contact: Greta Dwan 0414 211 908
