Business leaders in the Hunter region have delivered a lukewarm verdict on the latest federal budget, acknowledging some positives but expressing concerns over key areas affecting local industry.
Mixed Reactions from Local Chambers
The Newcastle Chamber of Commerce and Industry said the budget contained several welcome measures but fell short in addressing the region's specific needs. Chief executive officer, Bob Hawes, noted that while infrastructure spending was appreciated, more support was needed for small businesses and manufacturing.
"We welcome the investment in roads and rail, but we need to see more targeted assistance for the sectors that drive our local economy," Mr Hawes said.
Small Business Concerns
Small business owners in the Hunter have voiced disappointment at the lack of new tax relief and red tape reduction. Many had hoped for measures to ease cost pressures from rising energy prices and wages.
"The budget didn't go far enough for small businesses like mine," said Sarah Thompson, owner of a local cafe in Newcastle. "We are struggling with increased costs, and there was nothing to help us keep our doors open."
Positive Highlights
On the positive side, the budget included funding for the Newcastle Airport upgrade and continued support for the local defence industry. The $500 million commitment to the Port of Newcastle was also praised as a step forward for trade.
"The port funding is a game-changer for our region," said Mark Jones, a logistics company director. "It will create jobs and boost exports."
Overall Outlook
While some sectors stand to benefit, the overall sentiment among Hunter businesses remains cautious. Many are waiting to see how the budget measures will be implemented and whether further support will be forthcoming.
"We are taking a wait-and-see approach," said a spokesperson for the Hunter Business Chamber. "The budget has some positives, but we need to ensure they translate into real outcomes for our members."
The federal budget has received a mixed response across the region, with business leaders calling for more targeted action to support local economic growth and resilience.
