Woolworths chief executive Brad Banducci admits he misread the political environment by deciding to drop Australia Day merchandise, as appliances king Gerry Harvey bemoans a “mad, woke world” where business leaders no longer feel able to say what they think.

The supermarket giant has suffered a public backlash – Mr Banducci has received 3000 emails about the Australia Day decision, and said threats against staff had jumped by 50 per cent – after Opposition Leader Peter Dutton called for a boycott in response to the decision.