Australia has one of the least competitive company tax rates in the OECD. We’re third highest, ahead of only Columbia and Portugal. We’ve also added a lot of new regulation. So how do we tempt business investment here?
There are ‘no free lunches’ and we must be able to produce more with what we have if we are to sustain growing wages and national prosperity.
South Australia is clearly the region showing most urgency in mobilising towards the industrial and economic change needed to see AUKUS succeed. But our whole nation needs to step up, too.
The it-takes-two-to tango response from the government serves no purpose other than to avoid taking responsibility for properly investigating what has or hasn’t occurred.
Some nations celebrate their successful businesses, because they see what that means for the nation. But in Australia we are allowing business to become a permanent punching bag.
The Greens will tell you it is just about the supermarkets, but if you read their proposed law it is clear that it will actually capture all businesses.
Whether it is small or big business held back from being productive, the ramifications are felt by all.
Next year must be the year we get truly competitive, but there are some hard truths for the Albanese government to consider over summer.
Anthony Albanese’s trip signalled that Australian and Chinese businesses play an important role in bilateral relations between both countries, driving job creation and prosperity.
Original URL: https://www.theaustralian.com.au/author/bran-black