While Malcolm Turnbull may have won the vote to remain Prime Minister, the ongoing drama in the nation’s capital is negatively impacting business confidence, it has been claimed.
Decrying the divisions within the federal government after the failed leadership spill by Peter Dutton, as well as political point-scoring at a state level, James Pearson, CEO of the Australian Chamber of Commerce and Industry, said that personal politics are coming at the expense of good business policy frameworks.
“Businesses of all sizes across the country… more than ever need long-term positive policy certainty to give them the confidence to invest in their businesses and give people jobs,” he said.
“Good long-term policy – to encourage business to invest in cheaper, more reliable energy while meeting our emissions targets; and to stimulate business through tax cuts – has been taken hostage by short-term politics.”
Mr Pearson claimed that the failed leadership spill in the federal party room is not the only example of poor policy outcomes creating uncertainty for business leaders, and called out “political opportunism” on the other side of the bench.
“The Labor governments of Queensland, Victoria and the Australian Capital Territory have held out on approving the National Energy Guarantee; and federal Labor refuses to back company tax cuts despite their previous support,” he said.
“If we are going to make Australia the best place in the world to do business – so that Australians have the jobs, living standards and opportunities to which they aspire – our politicians need to start putting good policy and the long-term national interest first.”
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
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