The Australian Retail Council (ARC) noted approval for temporary tax relief and new product safety rules for low-cost offshore platforms such as Temu and Shein.
Glenn Fahey, ARC chief economist and chief policy officer, said that economic pressures have pushed consumer confidence to record lows, below levels seen during the early 1990s recession.
"It's clear Australia’s budget and debt position will remain under pressure for some time, which makes the task of bringing inflation under control more challenging and creates ongoing pressure for businesses and households," he said.
"Retailers continue to face intense pressure from a weak consumer outlook, rising operating costs and persistent uncertainty, most recently from the supply chain impacts of the Middle East conflict."
Measures include temporary tax loss carry-back provisions, a permanent $20,000 instant asset write-off for eligible businesses, and investments to strengthen fuel and energy resilience.
Australia continues to experience low productivity growth, which the ARC identifies as a key long-term economic challenge, despite the Budget measures. Fahey welcomed the simplification of payroll tax administration and initiatives to reduce red tape, such as reforms in retail tenancy, waste and recycling, and heavy vehicle regulation.
"It's clear there are steps in the right direction, but there is a long way to go to meaningfully improve competitiveness, reduce business costs and lift productivity," he said.
"It is critical that the Government elaborates on its plan for incentivising states and territories to seize the moment for national harmonisation."
He added: "Measures that strengthen business resilience are constructive, particularly at a time when many retailers are absorbing higher costs across freight, logistics, energy, wages, insurance and compliance."
Other measures include harmonising retail tenancy frameworks and waste and recycling regulations across states and territories. The Budget also provides $67.7 million in additional funding for the Australian Competition and Consumer Commission.
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