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Five Point Plan to address financial crisis
The Fraser Coast Regional Council has adopted a five point plan to help minimise the impact of the current global financial crisis on our region.
The plan outlines the Council’s initiatives under the headings:
Councillor Gerard O’Connell, said the economic situation was now starting to bite on the Fraser Coast.
“We are hearing stories of businesses being very careful about their future financial planning and some holding back on projects or employing staff,” he said.
“While other businesses are stepping back, we are carrying out our works program as quickly as we can in order to ensure the continuation of trade with our suppliers, to provide employment for council staff and contractors and to boost confidence in the community,” he said.
“Community expectations are that the government will free up hundreds of millions of dollars worth of infrastructure projects such as building sports grounds, libraries and community projects – relatively small scale projects that can start soon, quickly creating jobs and economic activity.
“The Council will echo the government’s strategy by accelerating expenditure of its own $70 million capital works budget and will consider other infrastructure projects which can be fast-tracked.”
Mr O’Connell said lower interest rates had increased the Council’s capacity to borrow, strengthening its ability to proceed with projects.
“That has to be offset against a possible fall in the demand for council’s fee paying services as residents cut back on spending. The slump in the housing market will also have a significant effect on Council’s revenue streams,” he said.
“However we are fortunate on the Fraser Coast in that we have some fundamentals that put us in a good position. This is a fast growing area, we have a sound economy and we have a broad economic base spread across urban, rural, manufacturing and tourism.”
The plan outlines the Council’s intention to:
“We have to instil confidence by being prudent and responsible,” Mr O’Connell said.