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West Australian
2 days ago
- Business
- West Australian
Reform roundtable countdown: Business leader calls for flexible thinking as government finalises agenda
A top business leader has called for unions to be more flexible and avoid positions that are simplistic and not constructive at next month's economic roundtable. The call from Australian Chamber of Commerce and Industry head Andrew McKellar echoes Treasurer Jim Chalmers, who has said he wants everyone to approach the roundtable with an open mind, although he doesn't mind people being blunt and upfront with their views. It comes amid a slew of pre-roundtable discussions hosted by ministers to feed ideas into the main event being held on August 19-21. Dr Chalmers is preparing to issue a final round of invitations aimed at getting experts in specific areas, such as tax reform, in for one of the three days of talks. He's already invited 22 representatives of unions, business groups, the tech and banking sectors, and senior officials from Government bodies as the 'core' attendees at the summit. Mr McKellar said he was willing to take the Government's intentions for reform at face value. But he cautioned that contributions like that of the Australian Council of Trade Unions — which last week blamed poor managers for sluggish productivity — were simplistic and not constructive. 'The risk is that there will be a tendency to approach the agenda from … fixed starting points. I think we've got to try and break that down,' he told The West. 'Obviously, we were concerned with the sort of characterisation that the ACTU put forward last week, which I think was, was not in the spirit that we would expect. 'We do expect something more constructive than simply, you know, a critique that productivity ills are due to the failures of management.' The nation's peak union body released research last week showing that about two in five Australian workers reported feeling burnt out at work, and only about half thought there were enough staff in their workplace to get the job done. ACTU secretary Sally McManus said, 'Too many employers' had equated lifting productivity with pushing people to work harder for longer, leading to burnout. Mr McKellar acknowledged that, naturally, everyone would bring different priorities, but was optimistic there would be sufficient expertise to help people find common ground. 'When you see all the commentary that is now coming in and the ideas that are out there in the broader dialogue that's occurring in the lead up to the roundtable, then I think that's helping to sift what some of those priorities should be,' he said. Ministers are in the midst of running a series of consultations in their portfolios to also feed ideas into the reform roundtable. Industry Minister Tim Ayres will talk to people in the innovation and tech space on Friday and hold a second discussion on minerals processing and smelting next week. Housing Minister Clare O'Neil will host five roundtables next week, convening industry, innovators, unions, local government and State and Territory building, planning and housing ministers. Energy Minister Chris Bowen intends to get the key players in his sector in a room together next week as well, while Health Minister Mark Butler will ask for ideas on how to lift productivity in health and social care — some of the toughest areas to lift on traditional economic measures — on August 13. Resources Minister Madeleine King has held two sets of talks already with the sector and has more planned with unions and key stakeholders across Northern Australia. An infrastructure discussion earlier in July focused on supply chains and freight movement, while ongoing consultation on environmental laws and approvals processes will feed into the productivity discussion. Small Business Minister Anne Aly heard from business owners in a gathering at Parliament House last week. 'The top theme that regularly came up through the roundtable was the perennial issue of red tape,' she told The West. 'I look forward to continuing to work closely with the sector, and with my State and territory counterparts, to ensure small business is central in our thinking as we develop programs and policies that affect them.' The Productivity Commission will release the interim versions reports on the 'five pillars' for reform over the next fortnight, starting on Thursday, which it says will give the nation a blueprint for a switch to a 'growth mindset'. Reserve Bank governor Michele Bullock, Productivity Commissioner Danielle Wood and Treasury secretary Jenny Wilkinson will lead discussions on each of the three days, focusing on economic resilience, productivity, and budget sustainability, respectively.
The Advertiser
5 days ago
- Business
- The Advertiser
'Trade-offs' on cards to get productivity back on track
Australians are being warned to prepare for trade-offs in areas such as housing if the nation's productivity push is to be successful. Productivity Commission chair Danielle Wood is calling on Australia to adopt a "growth mindset" to prioritise economic outcomes and boost living standards. That means changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals and ensuring AI adoption is not undermined by unnecessary regulation, among other suggestions. It comes as the commission prepares to release a series of reports detailing how Australia can get productivity moving again. "Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,'' Ms Wood said. "Productivity growth is essential to fulfilling that promise." But productivity growth has plummeted in recent years. How much Australia produces with the same amount of workers has grown at just under 0.4 per cent per year since 2015, compared with the 60-year average of 1.6 per cent. That's been caused in part by governments ignoring or minimising economic growth when making policy choices in recent years, according to a paper released by the commission. Policymakers have made it harder that it should be to start a business or build essential infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or "overly influenced by vocal stakeholder groups". Governments must balance competing objectives and make choices that improve Australians' overall wellbeing, even if those decisions might negatively affect other goals. "Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,'' Ms Wood said. "That doesn't mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs." The paper lays the groundwork for five forthcoming reports the commission is preparing to release before an economic roundtable convened by Treasurer Jim Chalmers. He said the report made clear the productivity problem had been around for decades and almost every comparable country had the same challenge. "The best way to strengthen our economy and make it more productive is to work through the issues in a methodical and considered way in collaboration with business, unions and the broader community," Dr Chalmers said. In its submission to the roundtable, a joint group of industry associations including the Business Council of Australia and the Australian Chamber of Commerce and Industry outlined four priority areas for reform. They include reforming research and development funding models to boost innovation; cutting the regulatory burden by 25 per cent by 2030; co-ordinating and unifying planning processes to speed up project approvals; and committing to comprehensive tax reform. "We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment," Business Council chief executive Bran Black said. "These policies can deliver benefits for economic activity across the whole country and importantly ensure future generations aren't worse off." Australians are being warned to prepare for trade-offs in areas such as housing if the nation's productivity push is to be successful. Productivity Commission chair Danielle Wood is calling on Australia to adopt a "growth mindset" to prioritise economic outcomes and boost living standards. That means changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals and ensuring AI adoption is not undermined by unnecessary regulation, among other suggestions. It comes as the commission prepares to release a series of reports detailing how Australia can get productivity moving again. "Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,'' Ms Wood said. "Productivity growth is essential to fulfilling that promise." But productivity growth has plummeted in recent years. How much Australia produces with the same amount of workers has grown at just under 0.4 per cent per year since 2015, compared with the 60-year average of 1.6 per cent. That's been caused in part by governments ignoring or minimising economic growth when making policy choices in recent years, according to a paper released by the commission. Policymakers have made it harder that it should be to start a business or build essential infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or "overly influenced by vocal stakeholder groups". Governments must balance competing objectives and make choices that improve Australians' overall wellbeing, even if those decisions might negatively affect other goals. "Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,'' Ms Wood said. "That doesn't mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs." The paper lays the groundwork for five forthcoming reports the commission is preparing to release before an economic roundtable convened by Treasurer Jim Chalmers. He said the report made clear the productivity problem had been around for decades and almost every comparable country had the same challenge. "The best way to strengthen our economy and make it more productive is to work through the issues in a methodical and considered way in collaboration with business, unions and the broader community," Dr Chalmers said. In its submission to the roundtable, a joint group of industry associations including the Business Council of Australia and the Australian Chamber of Commerce and Industry outlined four priority areas for reform. They include reforming research and development funding models to boost innovation; cutting the regulatory burden by 25 per cent by 2030; co-ordinating and unifying planning processes to speed up project approvals; and committing to comprehensive tax reform. "We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment," Business Council chief executive Bran Black said. "These policies can deliver benefits for economic activity across the whole country and importantly ensure future generations aren't worse off." Australians are being warned to prepare for trade-offs in areas such as housing if the nation's productivity push is to be successful. Productivity Commission chair Danielle Wood is calling on Australia to adopt a "growth mindset" to prioritise economic outcomes and boost living standards. That means changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals and ensuring AI adoption is not undermined by unnecessary regulation, among other suggestions. It comes as the commission prepares to release a series of reports detailing how Australia can get productivity moving again. "Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,'' Ms Wood said. "Productivity growth is essential to fulfilling that promise." But productivity growth has plummeted in recent years. How much Australia produces with the same amount of workers has grown at just under 0.4 per cent per year since 2015, compared with the 60-year average of 1.6 per cent. That's been caused in part by governments ignoring or minimising economic growth when making policy choices in recent years, according to a paper released by the commission. Policymakers have made it harder that it should be to start a business or build essential infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or "overly influenced by vocal stakeholder groups". Governments must balance competing objectives and make choices that improve Australians' overall wellbeing, even if those decisions might negatively affect other goals. "Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,'' Ms Wood said. "That doesn't mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs." The paper lays the groundwork for five forthcoming reports the commission is preparing to release before an economic roundtable convened by Treasurer Jim Chalmers. He said the report made clear the productivity problem had been around for decades and almost every comparable country had the same challenge. "The best way to strengthen our economy and make it more productive is to work through the issues in a methodical and considered way in collaboration with business, unions and the broader community," Dr Chalmers said. In its submission to the roundtable, a joint group of industry associations including the Business Council of Australia and the Australian Chamber of Commerce and Industry outlined four priority areas for reform. They include reforming research and development funding models to boost innovation; cutting the regulatory burden by 25 per cent by 2030; co-ordinating and unifying planning processes to speed up project approvals; and committing to comprehensive tax reform. "We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment," Business Council chief executive Bran Black said. "These policies can deliver benefits for economic activity across the whole country and importantly ensure future generations aren't worse off." Australians are being warned to prepare for trade-offs in areas such as housing if the nation's productivity push is to be successful. Productivity Commission chair Danielle Wood is calling on Australia to adopt a "growth mindset" to prioritise economic outcomes and boost living standards. That means changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals and ensuring AI adoption is not undermined by unnecessary regulation, among other suggestions. It comes as the commission prepares to release a series of reports detailing how Australia can get productivity moving again. "Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,'' Ms Wood said. "Productivity growth is essential to fulfilling that promise." But productivity growth has plummeted in recent years. How much Australia produces with the same amount of workers has grown at just under 0.4 per cent per year since 2015, compared with the 60-year average of 1.6 per cent. That's been caused in part by governments ignoring or minimising economic growth when making policy choices in recent years, according to a paper released by the commission. Policymakers have made it harder that it should be to start a business or build essential infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or "overly influenced by vocal stakeholder groups". Governments must balance competing objectives and make choices that improve Australians' overall wellbeing, even if those decisions might negatively affect other goals. "Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,'' Ms Wood said. "That doesn't mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs." The paper lays the groundwork for five forthcoming reports the commission is preparing to release before an economic roundtable convened by Treasurer Jim Chalmers. He said the report made clear the productivity problem had been around for decades and almost every comparable country had the same challenge. "The best way to strengthen our economy and make it more productive is to work through the issues in a methodical and considered way in collaboration with business, unions and the broader community," Dr Chalmers said. In its submission to the roundtable, a joint group of industry associations including the Business Council of Australia and the Australian Chamber of Commerce and Industry outlined four priority areas for reform. They include reforming research and development funding models to boost innovation; cutting the regulatory burden by 25 per cent by 2030; co-ordinating and unifying planning processes to speed up project approvals; and committing to comprehensive tax reform. "We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment," Business Council chief executive Bran Black said. "These policies can deliver benefits for economic activity across the whole country and importantly ensure future generations aren't worse off."
Perth Now
5 days ago
- Business
- Perth Now
'Trade-offs' on cards to get productivity back on track
Australians are being warned to prepare for trade-offs in areas such as housing if the nation's productivity push is to be successful. Productivity Commission chair Danielle Wood is calling on Australia to adopt a "growth mindset" to prioritise economic outcomes and boost living standards. That means changing corporate taxes to promote investment, simplifying regulations, speeding up housing and energy approvals and ensuring AI adoption is not undermined by unnecessary regulation, among other suggestions. It comes as the commission prepares to release a series of reports detailing how Australia can get productivity moving again. "Australia should be a place where children born today can expect to live better and more prosperous lives than the generations who have come before them,'' Ms Wood said. "Productivity growth is essential to fulfilling that promise." But productivity growth has plummeted in recent years. How much Australia produces with the same amount of workers has grown at just under 0.4 per cent per year since 2015, compared with the 60-year average of 1.6 per cent. That's been caused in part by governments ignoring or minimising economic growth when making policy choices in recent years, according to a paper released by the commission. Policymakers have made it harder that it should be to start a business or build essential infrastructure such as housing or renewable energy because they have failed to weigh trade-offs effectively, been too risk-averse or "overly influenced by vocal stakeholder groups". Governments must balance competing objectives and make choices that improve Australians' overall wellbeing, even if those decisions might negatively affect other goals. "Bringing a growth mindset to policy decisions means elevating economic growth and its benefits,'' Ms Wood said. "That doesn't mean policymakers should ignore other objectives, but it does mean being clear-eyed about the trade-offs." The paper lays the groundwork for five forthcoming reports the commission is preparing to release before an economic roundtable convened by Treasurer Jim Chalmers. He said the report made clear the productivity problem had been around for decades and almost every comparable country had the same challenge. "The best way to strengthen our economy and make it more productive is to work through the issues in a methodical and considered way in collaboration with business, unions and the broader community," Dr Chalmers said. In its submission to the roundtable, a joint group of industry associations including the Business Council of Australia and the Australian Chamber of Commerce and Industry outlined four priority areas for reform. They include reforming research and development funding models to boost innovation; cutting the regulatory burden by 25 per cent by 2030; co-ordinating and unifying planning processes to speed up project approvals; and committing to comprehensive tax reform. "We need to cut unhelpful red tape, streamline planning, fix the tax system and improve incentives for investment," Business Council chief executive Bran Black said. "These policies can deliver benefits for economic activity across the whole country and importantly ensure future generations aren't worse off."
Sky News AU
14-07-2025
- Business
- Sky News AU
Businesses heads warn overly ambitious emission reduction targets could cause economic harm as unions push for re-imposition of carbon tax
Australia's most influential business group have railed against the implementation of a 2035 emission reduction target larger than 65 per cent, stating that the move would impede economic growth and stymie manufacturing. In a letter to the Productivity Commission's five pillars inquiry, which will compile the agenda of the Albanese government's reform roundtable, the Australian Chamber of Commerce and Industry reiterated the 2035 climate targets needed to be grounded in reality. Prime Minister Anthony Albanese is reportedly weighing a 65 – 75 per cent 2035 emission reduction target, in line with Climate Change Authority advice. The government is not expected to announce Australia's 2035 climate target until at least September ahead of the COP 30 conference in Brazil in November. However, chief executive of the Australian Chamber of Commerce and Industry Andrew McKellar said the government should refrain from pursuing a 2035 emission reduction target above 65 per cent, and stated that even the 2030 target of 43 per cent was "increasingly challenging." "We will only support something that's realistic, that's affordable for the Australian economy," Mr McKellar told Sky News on Tuesday. ACCI's submission to the Productivity Commission further outlined that a 2035 federal target over 65 per cent would risk the viability of small businesses and industry". "We have got to be realistic about the contribution that we can make. There's no point driving our economy into the ground," Mr McKellar added. Mr McKellar, who's body represents over 350,000 businesses nationwide, told The Australian anything in the 65 to 75 per cent range would be 'exceedingly challenging for the Australian economy". Despite the ACCI supporting the Albanese government's 43 per cent 2030 climate target, it has consistently pushed for market-oriented solutions and lobbied for the government to create the right environment to bolster private investment. The submission added that 'were the government to set a more ambitious 2035 NDC (Nationally Determined Contribution) ACCI would be greatly concerned about the impact on the productivity, competitiveness and viability of Australian businesses, as well as the cost to the taxpayer'. Meanwhile, the Australian Council of Trade Union used their submission to the Productivity Commission ahead of the economic forum to call on the government to impose a Julia Gillard-style, economy wide carbon tax. The ACTU said a far-reaching carbon tax was one of the best measures the government could take to ensure Australia was meeting its international climate obligations and stated Ms Gillard's carbon pricing mechanism spurred economic growth while limiting emissions. The peak union body also tore into the Albanese government's safeguard mechanism, which sets limits on the emissions of high polluting facilities and said the policy was ineffective and lacked teeth. 'The Productivity Commission's investigation of means to reduce the cost of meeting carbon targets should proceed from these premises, with the goal of internalising the externalities of carbon pollution in line with the principles of carbon pricing,' the ACTU's submission read. The ACTU submission further urged the Productivity Commission to examine whether there were existing federal government fossil fuel subsidies that could be abolished. The Climate Change Authority, chaired by former NSW Liberal MP Matt Kean, has reportedly not finalised its advice to the Albanese government on the 2035 emission reduction target and is still assessing feedback from a range of groups and bodies.
AU Financial Review
17-06-2025
- Business
- AU Financial Review
CEOs refocus on bottom line amid global uncertainty
Chief executives say they are more focussed on their companies' bottom lines as economic and political uncertainty roil the business environment, but deny that non-financial targets on environment, cultural and social issues have dropped as a priority. Australian Chamber of Commerce and Industry CEO Andrew McKellar said the dropping of new governance rules for ASX-listed companies this year was an example of how the environmental, social and governance agenda was changing.
