Big business is warning that Australia risks falling severely behind the US and even Britain as local political attitudes towards profit and investment deteriorate, leaving growth anaemic and costs continuing to increase.
The blunt assessment from executives at Telstra, QBE and other major companies contrasts with the optimism in the US, where the return of Donald Trump has left markets hopeful of an unwinding of regulations and the appointment of business-friendly figures to his administration.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
