In Business

ACT Shadow Treasurer Brendan Smyth

ACT Retail Sector Worst In The Country

Victor P Taffa

The latest CommSec economic report shows the ACT has the worst retail sector in the country and highlights the extent of Canberra’s cost of living crisis, ACT Shadow Treasurer Brendan Smyth said today.

“According to the report, the ACT is at the bottom of all the States and Territories in terms of retail spending.” Mr. Smyth said.

“It is clear that ACT Labor’s ever-increasing cost of living pressures are having a severe impact on Canberrans’ bottom line.”

“Under ACT Labor, rates have increased by 100 % in many suburbs, water costs have tripled, and electricity has risen 75 % with another 17 % rise in July. This leaves many Canberrans with little disposable income to spend on our important local retail sector.”

“The report also shows the detrimental impact of ACT Labor’s $50,000+ per unit tax on the building industry, with dwelling approvals continuing to drop.”

“ACT Labor is hindering a vital local industry by making it simply too expensive for developers to invest in the ACT.”

“These are the aspects of the report which Andrew Barr doesn’t want to discuss. He needs to understand the severe pressure that ACT Labor policies are placing on these important local industries and take action to reduce this pressure in the upcoming ACT Budget.” Mr. Smyth said.


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