Latest news with #BusinessCouncilofAustralia
The Advertiser
6 days ago
- Business
- The Advertiser
Captains of industry, unions sit at economic roundtable
Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government's economic summit. August's productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity commissioner Danielle Wood. Australian Chamber of Commerce and Industry chief executive Andrew McKellar and Australian Industry Group head Innes Willox are also confirmed, as is ACTU president Michele O'Neil and Council of Small Business Organisations of Australia chair Matthew Addison. The summit will look to find ways to boost flagging levels of productivity in the economy. "Each participant will play an important role in helping to shape our national reform priorities to boost productivity, strengthen our resilience and improve budget sustainability," Treasurer Jim Chalmers said. "This initial group includes leading voices from business, unions, the community sector and our key economic institutions. "This is a representative group that we're asking to provide ideas and build and advance consensus around them." It comes after the treasurer extended an invitation earlier in the week to opposition counterpart Ted O'Brien. The summit will be held over three days in Canberra. Dr Chalmers said the roundtable would include opportunities for state and territory representatives to contribute, as well as those on the cross bench in federal parliament. "More invitations will be issued in tranches and in due course as the agenda takes shape," he said. "We will bring additional stakeholders, experts and representative groups to the roundtable, including for specific days, sessions and topics." Members of the public are also urged to offer ideas, with submissions open until late July. "We welcome proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability," Dr Chalmers said. The ideas would need to meet criteria including being in the national interest, be positive for the federal, as well as being specific. Experts are concerned about Australia's lagging growth in productivity - a key economic measure of efficiency and long-term driver of improved living standards. The Business Council's chief executive said he looked forward to providing practical solutions the productivity challenge. "Productivity growth is the best way to sustainably lift living standards for all Australians, which is why it is critical that there is constructive engagement between all stakeholders," Mr Black said. Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government's economic summit. August's productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity commissioner Danielle Wood. Australian Chamber of Commerce and Industry chief executive Andrew McKellar and Australian Industry Group head Innes Willox are also confirmed, as is ACTU president Michele O'Neil and Council of Small Business Organisations of Australia chair Matthew Addison. The summit will look to find ways to boost flagging levels of productivity in the economy. "Each participant will play an important role in helping to shape our national reform priorities to boost productivity, strengthen our resilience and improve budget sustainability," Treasurer Jim Chalmers said. "This initial group includes leading voices from business, unions, the community sector and our key economic institutions. "This is a representative group that we're asking to provide ideas and build and advance consensus around them." It comes after the treasurer extended an invitation earlier in the week to opposition counterpart Ted O'Brien. The summit will be held over three days in Canberra. Dr Chalmers said the roundtable would include opportunities for state and territory representatives to contribute, as well as those on the cross bench in federal parliament. "More invitations will be issued in tranches and in due course as the agenda takes shape," he said. "We will bring additional stakeholders, experts and representative groups to the roundtable, including for specific days, sessions and topics." Members of the public are also urged to offer ideas, with submissions open until late July. "We welcome proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability," Dr Chalmers said. The ideas would need to meet criteria including being in the national interest, be positive for the federal, as well as being specific. Experts are concerned about Australia's lagging growth in productivity - a key economic measure of efficiency and long-term driver of improved living standards. The Business Council's chief executive said he looked forward to providing practical solutions the productivity challenge. "Productivity growth is the best way to sustainably lift living standards for all Australians, which is why it is critical that there is constructive engagement between all stakeholders," Mr Black said. Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government's economic summit. August's productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity commissioner Danielle Wood. Australian Chamber of Commerce and Industry chief executive Andrew McKellar and Australian Industry Group head Innes Willox are also confirmed, as is ACTU president Michele O'Neil and Council of Small Business Organisations of Australia chair Matthew Addison. The summit will look to find ways to boost flagging levels of productivity in the economy. "Each participant will play an important role in helping to shape our national reform priorities to boost productivity, strengthen our resilience and improve budget sustainability," Treasurer Jim Chalmers said. "This initial group includes leading voices from business, unions, the community sector and our key economic institutions. "This is a representative group that we're asking to provide ideas and build and advance consensus around them." It comes after the treasurer extended an invitation earlier in the week to opposition counterpart Ted O'Brien. The summit will be held over three days in Canberra. Dr Chalmers said the roundtable would include opportunities for state and territory representatives to contribute, as well as those on the cross bench in federal parliament. "More invitations will be issued in tranches and in due course as the agenda takes shape," he said. "We will bring additional stakeholders, experts and representative groups to the roundtable, including for specific days, sessions and topics." Members of the public are also urged to offer ideas, with submissions open until late July. "We welcome proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability," Dr Chalmers said. The ideas would need to meet criteria including being in the national interest, be positive for the federal, as well as being specific. Experts are concerned about Australia's lagging growth in productivity - a key economic measure of efficiency and long-term driver of improved living standards. The Business Council's chief executive said he looked forward to providing practical solutions the productivity challenge. "Productivity growth is the best way to sustainably lift living standards for all Australians, which is why it is critical that there is constructive engagement between all stakeholders," Mr Black said. Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government's economic summit. August's productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity commissioner Danielle Wood. Australian Chamber of Commerce and Industry chief executive Andrew McKellar and Australian Industry Group head Innes Willox are also confirmed, as is ACTU president Michele O'Neil and Council of Small Business Organisations of Australia chair Matthew Addison. The summit will look to find ways to boost flagging levels of productivity in the economy. "Each participant will play an important role in helping to shape our national reform priorities to boost productivity, strengthen our resilience and improve budget sustainability," Treasurer Jim Chalmers said. "This initial group includes leading voices from business, unions, the community sector and our key economic institutions. "This is a representative group that we're asking to provide ideas and build and advance consensus around them." It comes after the treasurer extended an invitation earlier in the week to opposition counterpart Ted O'Brien. The summit will be held over three days in Canberra. Dr Chalmers said the roundtable would include opportunities for state and territory representatives to contribute, as well as those on the cross bench in federal parliament. "More invitations will be issued in tranches and in due course as the agenda takes shape," he said. "We will bring additional stakeholders, experts and representative groups to the roundtable, including for specific days, sessions and topics." Members of the public are also urged to offer ideas, with submissions open until late July. "We welcome proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability," Dr Chalmers said. The ideas would need to meet criteria including being in the national interest, be positive for the federal, as well as being specific. Experts are concerned about Australia's lagging growth in productivity - a key economic measure of efficiency and long-term driver of improved living standards. The Business Council's chief executive said he looked forward to providing practical solutions the productivity challenge. "Productivity growth is the best way to sustainably lift living standards for all Australians, which is why it is critical that there is constructive engagement between all stakeholders," Mr Black said.
Perth Now
6 days ago
- Business
- Perth Now
Captains of industry, unions sit at economic roundtable
Trade unionists, business leaders and welfare advocates are among the confirmed guests for the federal government's economic summit. August's productivity roundtable will include ACTU secretary Sally McManus, Business Council of Australia chief executive Bran Black, Australian Council of Social Service head Cassandra Goldie along with productivity commissioner Danielle Wood. Australian Chamber of Commerce and Industry chief executive Andrew McKellar and Australian Industry Group head Innes Willox are also confirmed, as is ACTU president Michele O'Neil and Council of Small Business Organisations of Australia chair Matthew Addison. The summit will look to find ways to boost flagging levels of productivity in the economy. "Each participant will play an important role in helping to shape our national reform priorities to boost productivity, strengthen our resilience and improve budget sustainability," Treasurer Jim Chalmers said. "This initial group includes leading voices from business, unions, the community sector and our key economic institutions. "This is a representative group that we're asking to provide ideas and build and advance consensus around them." It comes after the treasurer extended an invitation earlier in the week to opposition counterpart Ted O'Brien. The summit will be held over three days in Canberra. Dr Chalmers said the roundtable would include opportunities for state and territory representatives to contribute, as well as those on the cross bench in federal parliament. "More invitations will be issued in tranches and in due course as the agenda takes shape," he said. "We will bring additional stakeholders, experts and representative groups to the roundtable, including for specific days, sessions and topics." Members of the public are also urged to offer ideas, with submissions open until late July. "We welcome proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability," Dr Chalmers said. The ideas would need to meet criteria including being in the national interest, be positive for the federal, as well as being specific. Experts are concerned about Australia's lagging growth in productivity - a key economic measure of efficiency and long-term driver of improved living standards. The Business Council's chief executive said he looked forward to providing practical solutions the productivity challenge. "Productivity growth is the best way to sustainably lift living standards for all Australians, which is why it is critical that there is constructive engagement between all stakeholders," Mr Black said.
Perth Now
12-06-2025
- Business
- Perth Now
Fears Australia faces ‘missed opportunity'
Australia could miss out on its next great invention plus significant economic benefits, with one prominent business leader calling for an increase in research and development spending so we no longer lag behind other developed countries. Business Council of Australia chief executive Bran Black says the Albanese government should help boost public and private spending into research and development from 1.7 per cent of GDP to 3 per cent. As it stands, Australia is dragging behind the other OECD countries which on average invest 2.7 per cent of GDP into funding and developing innovating ideas. Australia was also significantly behind the United States and South Korea which invest 3.59 per cent and 5.21 per cent respectively. As a result, the country was missing out on the economic returns, with Mr Black pointing to analysis from the CSIRO which found that every dollar invested in R&D offered a $3 return to GDP. 'They're doing that because they see that the economic return, the dividend to their economy associated with these types of investment makes it worthwhile,' he said. More and better innovation also had the power to make 'life better' too, said Mr Black, pointing to world-leading Australian inventions such as the cochlear implant, Google Maps, pacemakers and even Wi-Fi. Business Council of Australia chief executive Bran Black is calling for more investment in R&D. NewsWire / Martin Ollman Credit: News Corp Australia 'If we talk about these types of inventions – being able to hear, being able to see your child, being able to navigate your way through cities and towns with confidence – that is genuinely a reflection of how our society has changed as a consequence of good old Australian R&D,' he said. 'R&D when done right changes the way we live, every single day.' While sectors such as agriculture, health, renewables and the resources sector were areas where Australia had 'existing advantages,' he said there was also 'scope for opportunity' in more left field areas like quantum computing. Figures released by the Department of Industry, Science and Resources tip Australia's technology sector is set to contribute $244bn a year to the economy by 2031, a rapid increase from the current $167bn. Increasing Australia's quantum capabilities is set to amplify the growth of the sector. 'Who would have thought that Australia would be at the absolute forefront of global research with respect to this cutting edge technology, and yet we are,' he said. Speaking to the importance of R&D, Mr Black said analysis from the CSIRO found Australia stood to receive a $3 boost to GDP for every dollar invested in R&D. NewsWire/ Nicholas Eagar Credit: NewsWire The push for a higher spend on R&D comes as Labor seeks to unite union and business leaders for a productivity roundtable which will be held at Parliament House in August. Mr Black said boosting Australian innovation was a key way to expose Australia to new market, create new jobs and develop emerging industries. In addition for a 5 per cent target on increased funding from the public and private sector, the BCA is also calling for a better tax incentives to encourage domestic and international to invest in Australian projects, plus a publicly accessible National Researcher Directory to help connect industry with research expertise. 'Ultimately what that means is that R&D is an excellent way of driving productivity (and) productivity is the main determinant for how we can deliver real wages growth across our economy,' he said. Labor is undertaking a strategic review into its R&D processes, with the government set to receive the recommendations by the end of the year. Former industry and science minister Ed Husic also acknowledged in October last year that R&D funding in Australia was at a 'sorry state,' and said the government was 'very focused on fixing up our languishing national R&D spend'.
AU Financial Review
09-06-2025
- Business
- AU Financial Review
Westacott, Fagg lead corporate Australia's King's Birthday honours
Jennifer Westacott was sitting in her office at Western Sydney University when an email dropped in her inbox informing her she'd been given Australia's highest honour: an appointment as Companion of the Order of Australia. 'It's obviously very humbling and a great honour,' said the former Business Council of Australia chief executive, who joined WSU as chancellor in 2023. Recognition like the letters AC after one's name was always a team effort, she said on Monday. 'You never do these things alone.'
Perth Now
08-06-2025
- General
- Perth Now
Grit and determination characterises women honoured
Grit, determination and a lot of teamwork are credited by several women as the secrets to their success. Notable women in business, banking, the law and tertiary education, have been recognised in the King's Birthday Honours List for their leadership contributions and gender-equality advocacy. Jennifer Westacott served as chief executive of the Business Council of Australia for 12 years before becoming chancellor of Western Sydney University in 2023. Having grown up in public housing and as the first person in her family to attend university, Sunday's appointment came as a full-circle moment. "Getting the opportunity to study at university changed my life," she told AAP. "(Universities) have that responsibility to produce the most skilled people in the world … so people have fulfilling and thriving lives." Ms Westacott's career has included time as a public servant, a variety of director roles and as patron of Mental Health Australia and Pride in Diversity. But a career highlight has been changing the stigma around public housing. During her time at the housing department she met with public-housing residents who told her they could not let their kids play in the gardens because there were no fences to keep them safe from traffic. "After we put the fences up I would often drive past and seeing the kids all playing there was a highlight for me," she said. "What I've tried to do is turn my difficult childhood into a life-long mission to see better lives for people and fight for equality, and to turn around the stigma of people living in public housing and in poverty." Ms Westacott is appointed a Companion (AC) of the Order of Australia, along with Kathryn Fagg, former CSIRO chair, Reserve Bank board member and non-executive director of NAB. Early in her career, Ms Fagg was often questioned on whether she got her role because of her gender. "We have come such a long way but that doesn't mean there aren't still challenges for women in the workplace," she said. Gender-equality advocate Helen Fisher said her time as a discrimination and human rights lawyer opened new ways of thinking. But it's her work undertaking gender impact analysis for federal government policy that she is most proud of. It means every government policy and expenditure is looked at in terms of how it will affect Australian women and girls. "It was really important to get the government to think actively about women," she said. "We've gone from developing an idea of gender impact analysis to formalising it in the budget process and now using the budget to improve gender equality." While Australia had made real progress, Ms Fisher - who has been appointed an Officer (AO) of the Order of Australia - said there were still challenges for women. "We need more men to be working on gender equality," she said. "The next frontier of feminism is to move beyond the idea of a binary opposition between 'us' and 'them' towards investigating how we overcome patriarchy to the benefit of all." Former Bendigo and Adelaide Bank chief executive Marnie Baker has always been a keen advocate for regional Australia and the opportunities it provides. She is being recognised as a Member (AM) of the Order of Australia for significant service to the financial and banking sectors. "I grew up on a dairy farm in northern Victoria and because kids in regional and rural areas didn't really have the same infrastructure and opportunity as kids in the city, you had to have a bit of grit and determination," she said. "I've grown up thinking if you needed something done, you do it yourself." Her work at Bendigo and Adelaide Bank is her proudest achievement as she stayed true to her purpose and saw firsthand how finance could be a force for good.
