The Australian Institute of Export applauded today’s announcement by the Coalition to increase the cap for the Export Market Development Grants scheme to $200 million- effective 1st July 2011
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Ian Murray, Executive Director of the Institute said: “This was a big step forward but it did fail to address the immediate shortfall. The announcement by the Government in July that the first tranche will be $27,500 was a massive blow to exporters and way short of where it should be.
“Exporters would simply cut back on marketing expenditure now which would result in lower export sales and a loss of jobs.”
Ian Murray said: “The Institute of Export would continue to press the Government for what was just and proper, especially as many exporters had already spent money with the expectation of greater funding.”
What’s required now is an injection of $50million this year. This will build confidence, exports and faith in the Government’s economic management credentials.
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