PM recognises importance of FTC scheme to regional Australia

Prime Minister Anthony Albanese’s categorical statement ruling out changes to Fuel Tax Credit (FTC) scheme is recognition of the importance the scheme plays in the current and future prosperity of regional Australia.

Messing with such a vital scheme that supports regional businesses, job creation and community investment was always a dangerous ploy, guaranteed to backfire.

It would have compounded the economic pain that Australians are currently experiencing, with high inflation and increasing interest rates.

After yesterday ruling out any changes to the FTC scheme, the federal government should champion the scheme’s permanency within the tax system, giving Australian businesses certainty moving forward.

The scheme should never have a question mark over its future. Not now, not ever.

We must get off this budgetary merry-go-round, where governments look to raid the scheme in the erroneous belief it will help budget repair, when in fact it would hinder.

Governments are too quick at taking aim at business, consistently changing the rules, making it more difficult to do business in Australia, and damaging our international competitiveness whether you are a big business or a small business, a supplier or a manufacturer, a sole trader or an employee.

The federal government must provide business with greater certainty, not a pervasive fear of what may be coming down the line. Such a cloud of uncertainty will smother investment and job creation, at a time when Australia needs them the most.