A survey of Queensland CEOs has shown that more than half reject the idea that we will soon see the benefits of the Government’s stimulus package flooding into the economy.
The survey conducted by the CEO Institute shows 56 percent of participants believe Australia will be well into 2010 before seeing any major improvement in economic conditions; and 78 percent felt the stimulus packages were targeted incorrectly.
The CEO Institute’s chief executive officer in Queensland, Sue Forrester said: “Many felt the stimulus packages were too retail-focused, with a lot of the money spent going straight overseas. They felt the money would have been better spent on big infrastructure projects of long term national value, to support personal tax cuts, and provide relief for small business.”
The survey also found that 40 percent of CEOs felt the biggest impact of the global financial crisis on their business had been belt-tightening around advertising, travel and entertaining, with 22 percent saying the biggest impact was on profit and 11 percent naming staff layoffs.
CEOs were divided on what they thought would be the most important initiative the Government could make to help business though this tough time. 44 percent answered “other” and provided a diverse list of ideas including business stimulus packages, investment in health, education and transport infrastructure projects, harmonization between state and federal systems and clear communication about the level of services provided to business by the Government.
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