The New South Wales business community has given the Federal Budget the tick of approval.
Both the Sydney Chamber of Commerce and the NSW Business Chamber have welcomed the Government’s commitment to rein in expenditure and reduce pressure on inflation.
Business Chamber spokesman Paul Ritchie says the establishment of an infrastructure fund will provide major benefits to the state.
“For far too long the growing demands for infrastructure were left with state governments, who simply didn’t have deep enough pockets to pay for it,” he said.
“The Federal Government, in this instance, has stepped up to the plate.”
Mr Ritchie says the Budget will provide a significant boost to infrastructure investment.
“When you’ve got blockages at your ports, when you have pressures on your railways and your roads, that impacts on your costs, that impacts on inflation and it impacts on the nation’s capacity to grow,” he said.
“Significant investments in those areas are actually investments in the long-term wealth, creating capacity for Australia.”