TACC news

Federal Budget falls short

10 MAY 2023

The Motor Trades Association of Australia (MTAA) welcomes the Federal Government’s small business support measures announced in the Federal Budget, such as the energy bill relief, instant asset write-off extension, and some red tape relief.

For the automotive industry, however, there is a missed opportunity, says MTAA CEO Geoff Gwilym.

“In the 2023-24 Budget, the government neglects to outline how it proposes to address the current 40,000-person automotive industry skills gap, including the increasingly important skills training required for electric vehicles, which is lagging,” said Mr Gwilym.

There are also considerable economic challenges that lie ahead for Australia’s economy, with rising debt and interest payments over the Budget forward estimates, and this necessitates a need for greater structural reform. 

Considerable uncertainty also remains in the global environment that may affect government forecasts over the period.

“The automotive industry is a crucial part of a cleaner, greener future, so the Federal Government should invest where it will get the best return – in the industry that will make it all happen, the automotive industry,” said Mr Gwilym.

ENDS

Download MTAA’s Federal Budget summary here.