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Twenty business groups have called on the government to support businesses to drive economic growth and improve living standards.
This story first appeared on HR Leader’s sister brand, Accounting Times.
A joint letter signed by 20 business groups called on parliamentarians for policy reform to boost business opportunities, cut red tape and make Australia a more attractive investment location.
"We need to see genuine reforms that address the high costs of running a business by reducing red tape, restoring a sense of balance to our IR system, delivering a taxation system that's competitive and sustainable, and creating a better approvals system,” Bran Black, chief executive of the Business Council of Australia, said.
As Australia grapples with stagnating productivity and global uncertainty stoked by US tariffs, businesses have called for reforms that would boost private sector activity.
"Global uncertainty, including in relation to US tariffs, makes it more important than ever that the Government, Opposition and independents back policies that support businesses of all sizes in Australia to grow and generate prosperity," Black said.
"Both sides of politics have said private sector-led growth is critical for our economy to recover, and so we need to see clear actions outlined in a long-term economic plan to achieve that.”
Business representatives echoed their support for the letter, which called for an agenda that would allow businesses to grow so Australians could benefit through real wage increases and greater prosperity.
"This campaign matters to the 2.6 million small businesses who are the largest private sector employer in the country,” Luke Aachterstraat, chief executive of COSBOA, said.
“It matters to our regions, remote and rural Australia - where mum-and-dad businesses are still more likely than anyone to give young people their first job and to sponsor the local footy club."
Margy Osmond, chief executive of the Tourism and Transport Forum, said: "Successful business is the lifeblood of our society. Infrastructure, goods, services, and experiences drive the economy. A government that supports business from its grassroots is supporting the future of Australia.”
The letter pointed out that businesses paid $143 billion in company tax over the last year, but said that Australia has one of the least competitive tax systems among comparable nations.
“We’ve burdened our economic engine room with countless new pieces of regulation and red tape,” the letter added.
David Inall, chief executive of Master Grocers Australia, added: “Each and every day, independent retail businesses are grappling with the ever-increasing cost of doing business, while at the same time striving to offer value to their customers.”
“Businesses must navigate increasingly complex and oppressive red tape compliance and convoluted industrial relations settings. This simply cannot continue.”
By making Australia an easier place to do business and a more attractive location for investment, the letter said Australia’s prosperity and productivity could be boosted.
“We are writing, as the representatives of Australia’s businesses, small and large, to ask you for a clear agenda to enable Australian businesses to grow and thrive,” the letter said.
“This is a fundamental prerequisite for every political party invested in Australia’s long-term success. This new agenda must back the role of successful businesses, at all levels, in building improved Australian living standards.”
Kace O'Neill
Kace O'Neill is a Graduate Journalist for HR Leader. Kace studied Media Communications and Maori studies at the University of Otago, he has a passion for sports and storytelling.
