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Property Council welcomes ‘business hibernation’ plan

The Property Council has welcomed the commitment of the Commonwealth, state and territory governments to develop a package of measures to help Australian businesses get through the current economic crisis caused by the coronavirus outbreak.

“The Prime Minister’s proposal for a ‘business hibernation’ package recognises the critical importance of helping as many Australian businesses make it through this extremely challenging period,” Property Council Chief executive Ken Morrison said.

“The PM is absolutely right to highlight the shared interest we all have in keeping businesses and their employees connected and ready for recovery, ranging from our smallest corner store through to our largest corporate firm.

“Businesses across tourism, retail, business services and logistics will be facing enormous challenges during this time and we need all of them to come through the other side of this crisis,” Mr Morrison said.

Mr Morrison said the Property Council is engaging closely with the Commonwealth, state and territory governments on the detail of the package to be announced in coming days.

“It was pleasing to hear the Prime Minister acknowledged that land tax relief was one lever being considered to support businesses across the economy.

“Our members are committed to being part of the combined effort to support Australian business during this extraordinarily challenging period.

“We’re all in this together and we all have a role to play, across all levels of government, and all sectors of business,” Mr Morrison said.

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