VERTO Chief Executive Officer, Ron Maxwell, today welcomed a number of initiatives announced in the 2015-2016 Federal Budget.
Mr Maxwell said the Australian Government’s decision to significantly boost job opportunities and support small business (through a package totalling $5.5 billion) would make a significant difference to communities across New South Wales.
"Small business plays a pivotal role in all communities across New South Wales," Mr Maxwell said.
"I welcome the Australian Government’s support of small enterprise through the introduction of a range of initiatives including a reduction of the small company tax rate by 1.5 per cent and a small business tax deduction for assets under $20,000.
“As a jobactive provider from 1 July 2015, we are particularly pleased to see a strengthened Restart wage subsidy of $10,000 over 12 months for small businesses that employ older staff.
“All of these measures will support economic growth and boost employment opportunities in our communities,” Mr Maxwell said.
Mr Maxwell also said the Australian Government’s commitment to youth unemployment was to be commended.
“Rising youth unemployment is a serious issue and I’m pleased to see the Australian Government will invest $331 million in a Youth Employment Strategy to tackle this issue.
“I particularly welcome the Australian Government’s $212 million commitment for a Youth Transition to Work programme and $105.7 million for intensive support for vulnerable job seekers (including over $74 million for young people you have multiple barriers to employment including mental illness).
“All of these initiatives will create more employment opportunities across New South Wales, and ensure job seekers are better supported to overcome barriers and gain employment,” Mr Maxwell said.