Australia is making significant progress in reopening and rebuilding its economy following the shutdowns caused by COVID-19.
The kids have returned to school, our shopping malls are busy again, cafes and restaurants have reopened their doors, and the footy’s back as well. More people are starting to return to work in the CBD.
These are encouraging signs of a return to something resembling normal life. However, we’re not there yet and we need to continue to be vigilant about protecting public health. We also know there are significant challenges ahead in rebuilding businesses and getting the economy firing again.
Next month, the Treasurer will provide an update on the country’s economic outlook as well as the future of critical business support measures such as the JobKeeper program.
There’s understandable concern about the impact of this assistance being withdrawn from those businesses which are still struggling to get back on their feet.
There are also critical issues to be addressed over the medium and longer term to support investment and growth. This week governments made a welcome commitment to accelerate the approvals process for nationally significant infrastructure projects.
However, as our industry knows only too well, red tape and inefficient planning and approvals processes hold up projects of all shapes and sizes, adding to their cost and diminishing their potential to support jobs and growth.
All levels of government have a critical role to play in putting in place the right policies to get Australia going again after the pandemic. It’s a point we’ve been making to governments around the country.
The insights and experience of our members are vital in informing our advocacy on these issues and many others. The ANZ/Property Council industry survey for the September 2020 quarter is now open and includes questions about the impact of COVID-19. I strongly encourage you to take the time and contribute your views on the outlook for our industry. The survey results will be published on 17 July.