Budget 2016: AFGC welcomes company tax cuts, infrastructure investment

The Australian Food and Grocery Council (AFGC) has praised the federal government’s 2016 Budget for creating the environment of confidence and certainty necessary to stimulate investment.

AFGC CEO Gary Dawson welcomed the Budget’s focus on progressive cuts to company tax.

“By laying out a 10-year plan to progressively cut company tax, the Budget lays the foundation for higher economic growth and a pathway back to a balanced budget,” said Dawson.

“Lack of investment, reflecting uncertainty and lack of confidence, is the biggest weakness in the Australian economy. Finding the right levers to build confidence and encourage higher business investment is critical and recognised by the government in the Budget’s centrepiece measures.

“The business and personal tax relief has positive flow-on effects through the food and grocery supply chain.”