Government Grants for Job Creation Projects
The main reasons for the Australian Government to invest in projects that create jobs are to strengthen the Australian economy and to develop the regional areas. This is also the reason why the Federal Government is investing hugely into infrastructure related projects aimed at developing rails and roads.
Apart from investing in the infrastructure development programs which are already creating huge job opportunities, the Australian Government is also funding considerably to encourage companies that are creating jobs. There are so many incentives, subsidies and grants in place for businesses, especially, SMEs that are hiring new employees. There are also numerous grants in place for businesses that are operating in the regional Australia and are hiring and training local workers.
According to a survey conducted by the OECD Observer, the future of Australian jobs is strong. The number of new workers required is expected to grow over the next five years and is likely to reach 886,000 by 2023. And that is why the Australian Government is focussing mainly on supporting sustained economic growth and improving labour market conditions.
It is also working closely with its G20 partners to increase the country’s growth potential and to create an economic environment where at least 2 million new jobs can be generated over the next ten years.
The Government understands that it is the businesses that create more jobs, and not the government and accordingly, its economic strategy is focused on improving the opportunities for businesses by providing them with financial assistance and expert advice. The government is already putting many efforts to implement reforms which can foster innovation and entrepreneurship.
As a part of these reforms, the government is working on reducing taxes and regulatory burdens on businesses. These include cutting red and green tape, removing inefficient taxes (such as the carbon and mining taxes) and reducing the company tax rate. The government is also trying to improve the functioning of Australia’s workplace laws through reforms which can help restore the balance in workplace relation systems.
Changes to the services system are also being made to strengthen the incentives for service providers and businesses to deliver high quality service and training to the new employees. Young people are also being encouraged with incentives, scholarships and grants to enter into employment, be self-employed or to pursue a higher education that can help them find employment. The government is securing funds in the form of grants and subsidies to the businesses that are in need of skilled professionals and are willing to provide in-house training to the job-seekers.
Like many other countries, Australia is also facing demographic challenges. To limit the impact of ageing population and to support economic growth, the government is encouraging more and more people to participate in the workforce by providing them with both intellectual and financial assistance.