Business Poised to Back Government Productivity Plan
The Business Council welcomes the announcement of Prime Minister Anthony Albanese’s new Ministry and looks forward to working with the Government to drive productivity gains that increase living standards for all Australians.
Business Council Chief Executive Bran Black said the Ministry continues to show stability in key portfolios, including the reappointment of Treasurer Jim Chalmers and Finance Minister Katy Gallagher.
“We welcome the opportunity to work with the Government in delivering a productivity agenda this term that boosts investment, business opportunity and quality of life for all Australians,” Mr Black said.
“Business investment is critical to addressing our productivity challenge – with six out of every seven workers employed by the private sector, and 80 per cent of Australia’s economic output coming from businesses of all sizes.
“The BCA looks forward to working with the Treasurer, the Finance Minister and the broader economics team to deliver productivity solutions across the economy, including through the Productivity Commission’s ‘five pillar’ inquiries.”
Mr Black also highlighted the Government’s commitment to boosting Australia’s competitiveness with greater international engagement, particularly through the continuation of Foreign Affairs Minister Penny Wong and Trade Minister Don Farrell.
“With one in four jobs being trade dependent, it’s crucial that business and government continue to secure new opportunities abroad to grow our economy at a time of geopolitical uncertainty,” Mr Black said.
Mr Black said business stands ready to assist the Government in driving urgently needed reforms to the Environment Protection and Biodiversity Conservation Act that deliver for both the economy and the environment.
“If we want to deliver increased housing supply, the energy transition and a Future Made in Australia, then it’s right to make fixing our out-of-date, clumsy and cumbersome approvals system a priority,” Mr Black said.
“The BCA looks forward to working closely with Minister Murray Watt to deliver reforms in line with the Samuel Review.”
The BCA also acknowledges the important contribution of Ed Husic as the Minister for Industry and Science and the role he played in establishing the Government’s landmark R&D review, which will be key to setting the Australian innovation economy up for the future.
“We look forward to assisting Minister for Industry, Innovation and Science Tim Ayres in fostering a culture that embraces technology, and which will help enable the Government to deliver on its productivity and Future Made in Australia agenda,” Mr Black said.
https://www.bca.com.au/business_stands_ready_to_support_government_productivity_agenda