Gerry Harvey is among the retailers hitting out at what he calls a “bullshit” Federal Budget.
Harvey made the comments to the Australian Financial Review.
“You get these people getting up, they’re calling themselves prime ministers or treasurer or ministers, they actually believe the bullshit that comes out of their mouth. It is self-hypnosis on a grand scale,” he said.
“The big picture is totally out of control. We’ve got a huge debt. The way we run our business, we look at costs, and what it costs to do this or that, and you say that ‘I won’t do that because I’ve got to make it work’. But governments don’t … It doesn’t matter who is in [power].”
Rob Scott, (pictured above) who heads up Wesfarmers, parent of Bunnings, Kmart, and Target, noted the targeted cost of living measures were as plus, but limited.
“Many of these same cost of living pressures are also impacting Australian businesses, and state and territory governments alongside the federal government need to remain focused on addressing the underlying issues – not adding to them,” he said.
“Of primary concern are domestic cost pressures rather than international factors.”
Australian Retailers Association CEO Paul Zahra said these pressures were “front of mind” for all Australians.
“Australians are rightfully keeping a close eye on cost-of-living reprieve, but so too are retailers – with discretionary spending beginning to significantly soften in the wake of inflation and consecutive interest rate rises.
“The red tape of Australia’s migration system and the barrier of expensive childcare are two leading drivers of high job vacancies.
“We are pleased to see the commitment to cut the cost of childcare for 1.2 million families – together these measures will have enormous benefits for retail and the broader economy.”
Zahra did note that more is needed to tackle higher labour, leasing, insurance and supply chain costs for retailers.
