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Regulating Small Business Credit

The Australian government via Bill Shorten are slipping through a surprise Bill while Australians are wound up in the Christmas hustle. Bill Shorten wants to regulate small business access to credit and it appears very likely it will to hurt small business already struggling with tight lending restrictions from banks in the post GFC aftermath.

Australia’s small business pain is now acknowledged as impacting on an economy suffering from low consumer and investor confidence. With Australian mining revenue slowed the government’s costly mistreatment of small business and consumers since 2007 has now become highlighted as gross economic stupidity.  

There is talk of another mini-stimulus package however it would need to be extremely tempting if it is to kick consumers out of a rut of flat-out rejecting discretionary spending. The Prime Minister and the Treasurer are very experienced at picking economic highlights but the man in the street tells a very different story.

In a country of painfully increasing costs, stagnant wages, increased unemployment, layoffs, increased homelessness, bankruptcies and crime, government lies, increased national and personal debt with constant parliamentary bickering about trivialities, the electorate is a very long way from happy.

A Bill that will further damage small business is lunacy but Australians have become accustomed to Labor lunacy. After all, most of those running the country were once running unions better known for the regular reports of corruption involving some of those very same administrative and economic amateurs.

The clear message given to Government long ago was, stop spending or face yet more unsustainable, crippling deficits for decades. Yet outrageous Gillard spending, which has been outstripping revenue since the day she won office, remained unabated.Larry Pickering

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