Networking
AICM National Economic Breakfast series Sponsored by TurksLegal AICM was excited to return to events in 2021 and to work with our National Partner TurksLegal to deliver a series of Economic Breakfasts across all divisions. TurksLegal Partner’s Andrew Forbes and Fiona Reynolds were delighted to introduce the guest speakers at the Brisbane and Sydney events respectively. These events were held in February and we asked both Andrew and Fiona to provide a brief summary of each event including some key takeaways so that other divisions can see what’s ahead for their events.
QLD
QLD Economic Breakfast Over 50 credit professionals attended the Brisbane AICM Economic breakfast held on 19 February 2021 at Pacific Hotel in Spring Hill. NAB’s Senior Financial Markets Manager, Justin Green, was the guest speaker. Justin prepared a detailed economic briefing in which his key messages were about the positive outlook NAB analysts hold for the Australian economy and how it has weathered the pandemic, with assistance from government stimulus. The post-COVID outlook for the Australian economy is brighter than some had feared. The ‘cliff’ that it was feared
8 CREDIT MANAGEMENT IN AUSTRALIA • April 2021
we would fall off in March when JobKeeper was brought to an end is not expected to be significant. This is because of: z the steps taken to control the virus allowing businesses to open comparatively early; z substantial government stimulus; z very low interest rates; and z personal cash reserves, diverted from internal spending. The takeaway tip from the breakfast was a reminder to ask your boss for a pay-rise because the quickest way to stimulate the economy is to encourage spending. I was proud to give a historically and geographically relevant Acknowledgement of Country, reminding everyone that Spring Hill was an important meeting
