Business leaders welcomed the treasurer’s pitch to embrace what could be a “defining decade” but questioned government policies to fix weak productivity growth.
Already a subscriber?Treasurer Jim Chalmers admits Australia’s long-term economic growth forecast of 2.2 per cent is not good enough, but business leaders question the government’s policies to fix weak productivity growth.on Monday, Dr Chalmers labelled this the “defining decade” if the next 40 years were to be as bountiful as the past 40.Oscar Colman
But there was widespread scepticism at the Summit prompted by what critics said was the lack of a growth agenda, an anti-productivity industrial relations agenda, uncompetitive tax rates and a predilection for redistribution over growth. “We used to be a free-wheeling, pioneering nation that punched above its weight. A country that was bold and courageous and wasn’t afraid to have a crack,” he said.
Dr Chalmers said the government was still considering measures to help the likes of BHP weather the nickel price slump, but the Big Australian doesn’t want tax credits or other assistance, just for the government to get out of its way.BHP was frustrated by Labor’s recent changes to workplace relations, including so-called “same job, same pay” laws affecting labour hire workers and contractors.
“There will still be a premium on what’s responsible… But we can’t ignore the way our economy is slowing.”
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