9 May, 2023

Australian Investment Council welcomes a Budget for developing Australia’s sustainability and reducing the cost-of-living

CANBERRA: The Australian Investment Council welcomes this year’s Federal Budget which seeks to balance cost-of-living pressures, particularly for vulnerable Australians, with investments in initiatives that will enhance the nation’s productivity and keep the economy strong.

Australian Investment Council CEO, Navleen Prasad said: “The Council welcomes the Budget’s measures designed to strengthen and fortify Australia’s economy, with a focus on prioritising a more sustainable Australia and investing in a net-zero economy.”

Budget measures designed to support the growth of small and medium-sized businesses and start-ups, growing the nation’s future industries, and investing in people and skills are key elements that will be front of mind for the private capital industry.

“This year’s Budget seeks to strike a balance between ensuring vulnerable members of the community are not left behind and keeping Australia’s economy strong.

“Economic challenges and opportunities will increasingly require public and private capital to work together, whether that be in social housing, energy transition, or building the industries of the future.

“Policy settings that enable the different types of capital to be put to work require continuous attention”, Ms Prasad said.

Consultation with stakeholders has informed the Government’s approach to this Budget, including in areas such as migration reform and net-zero investments, which were key areas of focus in the Council’s pre-Budget submission.

Ms Prasad said: “The right policy settings will continue to be crucial for Australia to remain competitive on the world stage as an attractive investment destination. The Council looks forward to continuing to work with the Government and advocating for members as it implements Budget measures.” 

For further information, please contact:

Mark Sefiani
Australian Investment Council
E: [email protected] | M: +61 401 252 582

About the Australian Investment Council

The Australian Investment Council is the peak body for private capital in Australia and has 200+ members who work to build strong businesses that support our communities, create new employment opportunities, and grow our nation’s economy. Members of the Council comprise the leading domestic and international private capital firms operating in Australia, and span private equity, venture capital, private credit, family offices, superannuation and sovereign wealth funds as well as leading financial, legal, and operational advisors. Our investment members directly or indirectly employ approximately 500,000 people across the economy, contribute almost three per cent to GDP, and support entrepreneurship and local capability by investing in Australian industries and businesses. The Australian Investment Council requests its name always appear in full and not abbreviated or as an acronym.