The Dun & Bradstreet National Expectations Survey released earlier today illustrates just how little confidence business, particularly small business, has in the Gillard Government.
“Labor’s broken promise on the carbon tax and the chaos and division in Labor’s ranks have sent business expectations sharply downwards,” said Senator Ryan.
Business outlook for sales, profits, employment and capital investment have all collapsed since Julia Gillard spectacularly broke her carbon tax promise and are now at the lowest levels since she became Prime Minister.
The outlook for sales has fallen by 17 percentage points since the March quarter to the lowest recorded figure since the Global Financial Crisis.
The outlook for profits (22 point drop), employment (6 point drop), and capital investment (8 point drop) are all at record lows for the Gillard Government.
The survey outlines that “… expectations have continued to decline as firms grapple with weak consumer spending and the fear of rising fuel prices…”
“Businesses are saying that pressure on the cost of living and fear of future price rises are directly impacting on sales, investment and their ability to employ people. Julia Gillard’s broken carbon tax promise has sent business confidence into a tail spin,” Senator Ryan said.
Labor’s carbon tax, which is a tax on every single Australian and every single Australian small business, has sent shockwaves through the small business community.
Since Labor was elected, 300,000 small business jobs have been lost. More will be lost if business confidence is not restored. Only the Coalition can restore confidence to the small business community.
Source: D&B National Business Expectations Survey, Tuesday 5 April 2011.