BCA calls on longer vision
In a speech to be given on Wednesday, the council will label planning for the decades to come as "somewhere between half-hearted and non-existent".
"In many countries, creating jobs, raising living standards and securing long-term prosperity is a challenge. In Australia it's a choice," council president Tony Shepherd will tell the National Press Club.
In a wide-ranging speech, Mr Shepherd will call for Australia to become a top-five country for income per capita and in the World Economic Forum's global competitiveness index. He will also call for more than 90 per cent of young people to complete year 12 or equivalent, and for all Australians to have access to a quality health system.
Australia should tackle entrenched disadvantage and close opportunity gaps between the indigenous and non-indigenous, Mr Shepherd will say.
The council's members are the chief executives of Australia's largest companies, including Mike Smith of ANZ Banking Group, Origin Energy's Grant King and Telstra chief executive David Thodey.
The speech will coincide with a launch of full-page ads by the council, urging leaders to focus on Australia's prosperity in the long term "not just the next six months".
The federal election will be on September 14, four months after a budget in which a $10 billion deficit is expected. It comes before the release of a business council report identifying nine areas for reform, including tax and regulation, infrastructure, energy, education and foreign investment.
The comments follow heated political debate on the taxation of superannuation, which resulted in mild changes for high-income earners, and a controversial government crackdown on foreign workers on 457 visas.
It was reported last week that Mr Shepherd, a member of the Prime Minister's Business Advisory Forum, told business chief executives: "I believe the upcoming budget will see more ad hoc, poorly thought-through attacks on business that are going to destroy investment, confidence and jobs."
Frequently Asked Questions about this Article…
The Business Council of Australia is urging leaders to focus on achieving a long-term national vision rather than being distracted by short-term complacency. In a National Press Club speech, council president Tony Shepherd said planning for the decades to come is often 'somewhere between half-hearted and non-existent' and the council has launched full-page ads to push for long-term thinking about Australia's prosperity.
Tony Shepherd is the president of the Business Council of Australia. In his speech he called for Australia to become a top-five country for income per capita and in the World Economic Forum's global competitiveness index, for more than 90% of young people to complete year 12 or equivalent, and for all Australians to have access to a quality health system, as well as tackling entrenched disadvantage, especially between indigenous and non‑indigenous Australians.
The council argues that clear long-term planning and reforms across areas such as tax, regulation, infrastructure, energy, education and foreign investment could strengthen competitiveness and economic growth, which matters to investors. Conversely, the council warns that ad hoc and poorly thought-through attacks on business could destroy investment, confidence and jobs, potentially harming market sentiment.
The article names several members of the council who are chief executives of Australia's largest companies, including Mike Smith of ANZ Banking Group, Grant King of Origin Energy, and David Thodey of Telstra.
The business council's forthcoming report identifies nine areas for reform. The article specifically mentions tax and regulation, infrastructure, energy, education and foreign investment as key focus areas to improve Australia's long-term prosperity and competitiveness.
The speech and the council's ad campaign come ahead of a federal election on September 14 and follow an expected budget that is forecast to show about a $10 billion deficit. The timing is intended to influence long-term policy discussion before the election and before release of the council's full report on reforms.
The article notes the speech follows heated debate over superannuation taxation — which produced mild changes for high-income earners — and a controversial crackdown on foreign workers on 457 visas. These policy debates matter to investors because changes to taxation and immigration can affect business costs, talent access and investment decisions.
Yes. The article reports that Tony Shepherd, who is also a member of the Prime Minister's Business Advisory Forum, told business CEOs he believes the upcoming budget could include more ad hoc, poorly thought-through attacks on business that would 'destroy investment, confidence and jobs.'
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