Andrew Forrest pushes for five-year parliamentary terms

Andrew Forrest has called on Malcolm Turnbull to implement political stability and criticised the system of flexible terms of government.

Andrew Forrest has called for fixed five-year terms for parliaments.

One of Australia’s top corporate leaders, Fortescue Metals chairman Andrew Forrest, has called on Malcolm Turnbull to implement political stability and restore confidence in the economy, and criticised the nation’s system of flexible terms of government.

Mr Forrest said he believed it was better to follow the British system of having fixed terms of up to five years, to give business and corporations more certainty to help develop the economy over the course of a government.

In an interview with the BBC, he said he believed Australia’s flexible three-year terms were too short and added to the political uncertainty the nation has faced over the past five years.

“I think there’s a lot that Australia can learn from other governments and nations, especially in UK, there’s a five- year election term,” he said.

“We have a three-year election term. That’s a year settling in, a year trying to get things done and then a year electioneering.

“Then on the back of that you have a 24/7 media cycle which is now part of our landscape and is not going away.

“So that three-year term does lead to short-termism.”

Mr Forrest said it was in Australia’s best interests for both sides of politics to stop “backgrounding”, after former prime minister Tony Abbott claimed his leadership was “white-anted” by Coalition MPs.

“I am only one of 22 million people in Australia but I know that everyone I speak to is sick of the turbulence and the unpredictability and the media firestorms that almost become self-fulfilling prophecies,” he said.

Mr Forrest said he believed the China-Australia free-trade agreement must go ahead to help build business, political and diplomatic ties between the two countries.