The Business Council of Australia has welcomed today’s National Cabinet outcomes, including the focus on national coordination, fuel supply and measures to support businesses and households facing rising fuel costs.
Business Council Chief Executive Bran Black said the coordinated national approach was critical, as was the focus on fuel supply.
“This is exactly the kind of coordinated national response we’ve been calling for. Maintaining fuel supply and keeping supply chains moving must remain the priority.”
Mr Black said the announcement to cut the fuel excise and reduce the heavy vehicle road user charge would provide some immediate relief for Australians at a time of real pressure.
“We know businesses and households are under genuine strain, particularly with rising fuel costs, and today’s measures will provide some support and relief.
“These are clearly temporary steps. As circumstances evolve, it’s important that support remains timely, targeted and proportionate, particularly in an environment of rising inflation, where supply and budgets are under pressure.”
Mr Black said businesses are working closely with suppliers and customers and supporting those most affected, and that this engagement will ramp up if supply chain shocks worsen. He also noted the importance of efficient and proportionate regulatory settings and practice at this time.
“One of the key considerations now is ensuring regulators and regulatory settings don’t hinder a cohesive whole of system response to the conflict, by imposing unnecessary downstream impacts on consumers and businesses that translate into even higher prices.”