19 December 2013 — It appears the “Scrap the Tax” mantra has not generated an upsurge of post-tax optimism among many businesses, with The Executive Connection’s quarterly confidence index showing that 52 per cent of small to medium sized businesses nation-wide expect the Federal Government’s repeal of the carbon tax will have little impact on their business. Just over 15 per cent believed it will have no impact at all, while only five per cent believed it will have a “very significant” impact.
In a further contradiction of the government’s reasoning, 71 per cent of smaller business owners surveyed by TEC reported a general improvement in business conditions throughout 2013 – despite in principle being among those most impacted by the carbon tax.
Chief executive of The Executive Connection, Nikki Potter, said the administrative costs and other additional complications associated with scrapping the carbon tax meant most of TEC’s members did not expect to see a significant cost saving in 2014.
Read the full TEC Confidence Index Survey here.