Retailers hope with the election over and a victorious win for the Coalition and newly elected Prime Minister Tony Abbott will shed much needed light for the industry.
Australian Retailers Association executive director Russell Zimmerman said retailers and consumers might be able to join some breathing room now that Australia has a majority government.
“We have every hope that with the new majority Abbott Government supporting retail and business, retailers and consumers alike will be able to enjoy a heightened sense of confidence and stability – resulting in a boost in sales toward the end of the year and a promising start to 2014,” he said.
Retailers are now urging for the Coalition to draw immediate attention to their 100 day action plan it has for the economy and businesses. This plan includes reforming the low value GST under $1000; using the Australian Competition and Consumer Commission’s powers to act against the misuse of market power in areas such as petrol price discounting; and taking steps to abolish the carbon tax.
“Retailers should start feeling a little more positive about the future under the Coalition’s small business policies as they are implemented,” Zimmerman said.
“The Coalition has made commitments to deal with macro-economic problems in their first term of Government and have said they will put significant issues under review allowing longer term reform.”
Other issues retailers expect the new government to address include workplace relations reforms, the abolition of inefficient taxes including Stamp Duty and Payroll Tax and the commitments to reduce red tape.