The South Australian budget will be the toughest for business in 40 years, according to Business SA as the global financial crisis reaps havoc on the local economy.
Business SA chief executive Peter Vaughan says a survey shows business confidence in SA has dropped to its lowest level since 2001.
“The Government had an enormous free kick with the massive GST package, taxation rebates they got from the Federal Government, and unfortunately they spent them on public sector salaries and didn’t spend them in areas where jobs in the private sector and infrastructure in the private sector would have enabled us to weather the storm,” he said.
“This will be the hardest and toughest budget delivered in this state for the last 40 years.”
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