Australia’s Business Council of Co-operatives and Mutuals (BCCM) has welcomed the federal budget, highlighting measures on long-term growth and the affordability crisis.
BCCM praised the budget’s “renewed focus on increasing long-term productivity growth while addressing immediate fuel security and affordability challenges for Australians, particularly older residents in rural and regional areas”.
This includes a AU$500m‑plus package to boost aged care governance and quality, including the $2.4m extension of the Care Together programme, which is being overseen by the BCCM.
Apex CEO Melina Morrison said the extension of Care Together will help ensure facilities remain open and give residents confidence that they can continue to live close to family in towns where many have resided for many years.
“The provision of further funding for Care Together will mean aged care co-ops, disability worker co-ops and community-directed primary healthcare can be expanded throughout regional Australia,” she added, “and allow them to secure their long-term viability by widening their services and developing their own revenue streams.
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“We are delighted to continue our partnership with the federal government to build a vibrant co-operative and mutual care sector in Australia.”
She added: “When local providers, workers and communities co-operate in the provision of care services, it’s a win for communities that rely on these services, and it’s an efficient use of public funds.”
BCCM also pointed to “significant headline reform measures tackling fuel security, housing affordability and social care funding sustainability”, and commended the government “for maintaining its focus on regulatory reform to facilitate innovation and productive investment, including its commitment to co-operatives in social care, regulatory reform for mutual banks and credit unions and reviewing the superannuation investment framework to remove barriers to investment in affordable housing and renewable energy.”
The apex also welcomed the investment in improving the productivity of the business environment where firms experience dual or multiple regulatory environments, including co-operatives and mutuals.
“Improvements in the regulatory and business environment announced in the $10.2bn Productivity Package should flow to co-operatives and mutuals to ensure parity of treatment,” it said.
Morrison added: “A lift in productivity is necessary for Australians’ living standards to lift and for a fairer and more resilient economy. Budget measures to drive ongoing regulatory reform, such as the announced inquiry into business dynamism, are an opportunity to examine the barriers to co-operative and mutual enterprise formation and growth.”
