Budget gets 'thumbs up' from business

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Budget gets 'thumbs up' from business

Major business organisations have responded positively to last night's Federal Budget, particularly approving the measures on education and training.

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Major business organisations have responded positively to last night's Federal Budget, particularly approving the measures on education and training.

NSW Business Chamber CEO, Kevin MacDonald, said business welcomes such initiatives as the establishment of a Higher Education Endowment Fund, $549m in additional payments for apprentices, and an increase of 5,000 in the skilled migration intake.

Workforce participation

'Lifting workforce participation is essential if we are to lift Australia's economic performance once again,' he said. 'Encouraging and supporting parents to enter and return to the workforce through improved access to child care, providing additional training, lifting skilled migration and providing the right tax incentives to families are all critical in helping increase the pool of workers available to Australian businesses.'

Heather Ridout, Chief Executive of the Australian Industry Group, praised the Budget's investments in improving education and training.

She said the more attractive incentives for apprentices, new Australian Technical Colleges, greater emphasis on competency-based progressions in the training of apprentices, the innovative changes to higher education, and the well-targeted school-based initiatives will improve the education and training systems and add to productivity over time.

Child care 

'An improved child care rebate and increased child care benefits which will also stimulate workforce participation,' she said

Peter Hendy, Chief Executive of the Australian Chamber of Commerce and Industry, said the Government's reforms 'get an "A" for very good work, particularly for the vocational education and training (VET) reforms, including additional money for apprenticeships, extension of vouchers and expanding FEE-HELP funding for VET.'

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