NAB CEO reflects on the Federal Budget

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Following the May 2024 Federal Budget NAB Group CEO Andrew Irvine said:

“Delivering targeted measures to support Australians to manage cost of living pressures and help businesses grow is crucial. At the same time it is important stubborn inflation is curbed as it continues to hurt every household and business.

“Small business owners are the lifeblood of Australia’s economy. Investment that helps them grow such as the extension of the instant asset write-off scheme for small businesses is welcome.

“Housing is one of Australia’s biggest issues, and one of our biggest opportunities. Measures that address the urgent need to increase housing supply, like build-to-rent, will help ease this crisis. There is no simple fix but it’s pleasing to see positive steps.

“Scams and fraud are devastating many Australians every day.  We acknowledge the contribution to fight this crime wave with more coordinated effort across Government, the finance sector, telecommunications and businesses.

“We welcome support that will help businesses transition to net zero and the investment in emerging industries, energy, resources and minerals capability in Australia and job creation in key regions.

“While growing the economy is proving challenging and some Australians need extra support, we remain optimistic about the outlook ahead.”

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