Business chiefs eye government jobs
Many in the business community - which had a prickly relationship with the former government - are waiting on details of who will advise the government on promised business advisory councils.
The most prominent council will be the Prime Minister's Business Advisory Council, which will be chaired by former ABC and ASX chairman Maurice Newman, and draw on representatives of manufacturing, agriculture, resources and services. Key members of prominent business groups, such as the Australian Chamber of Commerce and Industry, are also expected to get the nod for that council.
The Coalition has also promised to establish ministerial advisory councils for each cabinet minister, which would meet each quarter to advise the minister and relevant department on policy and red tape.
Business leaders contacted by Fairfax Media said despite the Coalition win being widely predicted, and some shadow ministers being long established, it was still too early to detail who would get the government's ear.
Business leaders expected to gain key roles under the new government are Ziggy Switkowski, as chairman of NBN Co, and David Murray, as head of a financial services inquiry. Fortescue founder Andrew Forrest and David Peever, managing director of Rio Tinto Australia, may be included on a new energy and resources sector advisory council.
Frequently Asked Questions about this Article…
The Prime Minister's Business Advisory Council is the most prominent of the new business advisory councils promised by the Coalition. According to the article, it will be chaired by Maurice Newman, the former ABC and ASX chairman, and will draw on representatives from manufacturing, agriculture, resources and services.
The article says the council will include representatives from manufacturing, agriculture, resources and services, reflecting a cross-section of industries that advise the government on business policy.
The Coalition has promised to establish ministerial advisory councils for each cabinet minister. These councils are planned to meet quarterly to advise the relevant minister and department on policy matters and reducing red tape.
Business leaders mentioned in the article as expected to gain key roles include Ziggy Switkowski as chairman of NBN Co and David Murray to head a financial services inquiry. Fortescue founder Andrew Forrest and David Peever, managing director of Rio Tinto Australia, may be included on a new energy and resources sector advisory council.
Yes. The article notes that key members of prominent business groups such as the Australian Chamber of Commerce and Industry are expected to be considered for seats on the Prime Minister's Business Advisory Council.
According to business leaders contacted in the article, it was still too early to detail exactly who would get the government's ear. While some appointments are expected, final lists and formal appointments had not been confirmed at the time of reporting.
The article suggests advisory councils will shape policy advice on industry issues and red tape. For everyday investors, that could mean policy shifts affecting companies in manufacturing, resources, agriculture and services—areas represented on the councils—so investors may want to monitor announcements and any resulting regulatory or sectoral changes.
Maurice Newman is the former chairman of the ABC and the ASX. His appointment as chair of the Prime Minister's Business Advisory Council is significant because the council will advise the government on business issues across major sectors, and its recommendations could influence economic and regulatory conditions relevant to investors.
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