Another year is fast closing, and as we head towards the festive season, our confidence is higher than this period last year when financial institutions were falling over like nine pins. The financial markets appear to have settled the dust, although they continue to be subject to altering prices. However, there is now a consistency which will see a steady stream of investors returning to the stock market. While we bask in better economic times, we must remember 2010 will be tougher, with the certainty of increased taxes or less benefits than we experience now.

The millions of dollars borrowed from Australian taxpayers and the future fund for the numerous stimulus packages will eventually have to be returned to the Government coffers to begin balancing the ledger. The Reserve Bank Governor Glenn Stevens told us late last month that the economic dive we had in Australia “had been one of the mildest on record.”

Our unemployment is now at 5.7 per cent, which is expected to head upwards to about 6.5%; this is in marked contrast to our American friends, who are travelling above 10%. Australia, with more bodies in the work force, means the Government is collecting more taxes, and with less in the dole queues the Government is in a reasonable position. Depending on how quickly they want to collect the large expenditure, the pain for taxpayers will still be lurking in the background.

But beware; do not be complacent, as there will be tough times … although there will also be very bright signs. The experts say that things are looking good for the next generation of baby-boomers heading from the work force into retirement.

But as night turns into day, we have to face the facts that we will be paying higher interest rates, and as our dollar still is above 90 cents compared to the USA dollar, we will face higher prices at the consumer end.

Not withstanding, all the climate change proposals will come at a cost to us, although Governments deny it simply will be another long term tax burden for all.

With Christmas almost here, key economists are predicting a better than expected sales in the traditional hectic time of December. The NAB Bank has released data that suggests the economy is currently performing better than we expected and predict growth will continue. The survey was conducted in all key major cities.

Locally our region mirrors the NAB’s predications, with our own survey returning an air of confidence as time ticks towards December 25th. Retailers say with the current trend of sales, they are confident shoppers will maintain their current trend of purchasing. The real estate sector is experiencing a period of buoyancy with agents reporting sales in price sectors at a high. All say that investors are back and there is good activity in the commercial market.

Tourism continues to be the growth area for our regions, and with a bumper time last December and January due to the economic crisis, it will be interesting to see the domestic market maintain the rise of last year. This year has been an outstanding year for the domestic tourism market – a trend that has seen a higher consistency during year.

Data from surveys are telling, with the majority of Australians wanting to taste more of our country, a figure which is a big reversal from previous years.

There is nothing better than tasting the product to ensure more is wanted. Heading overseas is part of life’s adventure, but it is wonderful to know Australians are increasing their appreciation of Australia.

And finally, we appear to have embraced the lay-by service on offer from most businesses. The major chains report this system is becoming over taxed as consumers steer clear of the temptation of using their credit. With no interest and a liberal time to pay, it makes sense to pay the amounts owing weekly. However, while our credit card debt is still high, compared to years past, we look to be controlling our plastic card with more caution.

To all businesses and readers in the Great Lakes and Manning Valley: Merry Christmas and a Happy New Year.