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The announcement Arnott’s will close its Miranda plant by the end of the year is not a surprise considering business confidence has further slumped in New South Wales, Shadow Minister for Finance Mike Baird said today.
“The loss of 150 jobs will hit the Shire hard and it would be naïve to think it is not related to the abysmal support the NSW Government provides businesses in this state,” said Mr Baird.
“This week another survey confirms the growing pessimism in the private sector, with the National Australia Bank finding the index of confidence has fallen 10 points and is now at minus 4*.”
Mr Baird said the NSW Government is by far the most unpopular State Government among small and medium businesses, with nearly half reporting its policies work against them**.
“Arnott’s was generous in its praise of its Miranda employees, however its attempts to turn the business into a profitable one failed.
“As a result 175 workers will be without a job and Shire families will be under even greater pressure.”
Mr Baird said that while companies had no choice but to flee New South Wales, Queensland is experiencing an influx of big national firms.
“New South Wales used to be known as the Premier State. Now big firms are choosing Queensland instead – 40 head offices are now based in the Sunshine State.
“State taxes in New South Wales are almost 10 times higher for some businesses compared with Queensland*** and payroll tax in this state is the highest on the Australian mainland.
“The Iemma Government needs to bring the state’s payroll tax in line with other states and stop slamming businesses with high taxes and charges. Otherwise, sadly, the Arnott’s closure may be a sign of more to come,” Mr Baird said.
MEDIA: Lisa Harrington - 0406 726 880
* National Australia Bank survey of 500 small, medium and large enterprises, released 29-4-07
** Sensis Business Index – reported in SMH 26-2-08
*** NSW Business Chamber – 14-12-07
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