action and innovation needed to build a better economic framework
must not be constrained by conventional approach
coordinated response needed to support economy through crisis into recovery
The Liberals must take
decisive and comprehensive action to support Tasmania through the economic recovery
from COVID-19.
Shadow Treasurer
David O’Byrne said as we move into recovery, we have the chance to tackle
inequality and work as a community to build a fairer and more resilient
economy.
“While the impact of
COVID-19 will vary depending on the industry, it is clear that everything has
changed and no-one will be left untouched,” Mr O’Byrne said.
“Economies are ecosystems,
with each component part relying on all others to thrive, and COVID-19 has attacked
our economic ecosystem on multiple fronts, increasing the chances of system failure.
“As well as measures
taken to relieve the immediate costs of doing business, we must also look at
the bigger picture and plan for recovery with bold action and innovation,
including government interventions that would have seemed unthinkable before
this crisis.
“These include the government
taking an equity stake in major businesses, the establishment of industry and
region-specific funds to support a mixture of survival and targeted growth, the
creation of industry-led co-ops to allow smaller businesses to collectively
increase their purchasing power, and a framework to assess, deliver and oversee
delivery of these measures.
“We can’t allow our
thinking to be constrained by conventional approaches, or our recovery will be
similarly constrained.
“Government
assistance for industry must be tied to businesses building a better framework
of economic security for workers, and a central forum is needed to coordinate
an adequate response.
“Labor got us through
the 2007 global financial crisis by setting up key economic infrastructure to
manage the response and guide recovery.
“Unfortunately, the Liberals’ dismantling of this has left us with a patchwork approach, with no central, coordinated response to support the economy through this crisis and into recovery.
“The longer the shutdown goes on, the harder it will be for businesses to not only survive, but to have enough left in reserve for the eventual start-up. Without decisive and comprehensive action, it will be much tougher, for much longer.”
David O’Byrne
Shadow Treasurer
