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Turnbull welcomed by industry

Young stylish businessmanAusveg has welcomed the appointment of Malcolm Turnbull as leader of the Federal Liberal Party and Prime Minister-designate.

“On behalf of the Australian vegetable and potato industries, Ausveg congratulates Mr Turnbull on his appointment as leader of the Liberal Party,” said, Ausveg deputy CEO, Andrew White.

“The Australian horticulture industry is the lifeblood of many rural communities and is a vital contributor to the Australian economy, employing tens of thousands of people across the country and contributing billions of dollars to the national economy annually,” said White.

“We look forward to a strong working relationship with the new Prime Minister to ensure any challenges that affect Australia’s vegetable and potato growers are adequately addressed so that the industries can continue to prosper in the years ahead.”

Australian Chamber of Commerce and Industry chief executive, Kate Carnell, warmed to a promise of more collegiate and co-operative government, and urged Turnbull to undertake reforms to boost productivity and competitiveness.

“We hope to see Mr Turnbull continue with efforts to repair government finances, fix the problems of federation, undertake critical tax reform and advance the cause of free trade,” she said.

IG market analyst Angus Nicholson said Turnbull could lift sentiment after a raft of figures last week showed consumer and business confidence dipping again.

The Australian dollar has already rallied after Turnbull ousted Abbott as Liberal leader in a partyroom ballot on Monday night.

“Traditionally with conservative pro-finance, pro-business leaders, which I think Mr Turnbull is regarded among the investor community, you often see a boost in consumer and investor confidence,” Nicholson said.

“If it does provide a boost to confidence, that can also boost the real economy.”

Do you think the change of PM will have a positive impact on retail? Tell us in the comments below. 

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