Why do Canberra businesses do so badly?

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brendan smyth

THE Liberals’ Brendan Smyth says the ACT has the lowest business survival rate in Australia according to new data released by the Australian Bureau of Statistics (ABS) today.

“This is further evidence of ACT Labor’s poor track record supporting local business,” Brendan said.

“Between June 2010 and June 2014, the ACT suffered the lowest business survival rate in the country at only 58.9 percent. This is the outcome of an ACT Labor government intent on pursuing policies that result in higher taxes, charges and administrative costs on ACT businesses,” Mr Smyth said.

“Already in 2015, the Sensis Business Index reported a staggering 42 point decrease in business confidence here; making the ACT the least confident jurisdiction among small and medium businesses.

“Today’s ABS figures are a double whammy to our business sector. Not only are we the least confident jurisdiction in the country, we also have the highest business attrition rate. And this is over a four year period.

“The government’s Budget Review has already shown that the ACT has the largest deficit in the country except Western Australia. Yet, in per capita terms, our deficit under ACT Labor is four times that of Western Australia.

“This can only mean one thing for ACT businesses; tougher times ahead as a result of a business minister that doesn’t understand business and a government more interested in light rail,” Mr Smyth concluded.

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