Labor must have ‘practical plan’ for rising costs

Business leaders have welcomed the new Labor government but warned about the pressures of inflation and supply chain bottlenecks on industry.

23 May 2022 

ACCI chief executive Andrew McKellar said Labor’s first priority must be ending “the most acute labour and skill shortages in 48 years".

“Small businesses cannot afford for the next federal government to drag its heels on growing Australia’s workforce,” Mr McKellar said. 

“ACCI will seek to be an active participant in Labor’s proposed employment summit. Bringing unions and employer groups together in a collaborative manner will be an important opportunity to reform our ailing enterprise bargaining system, bolstering productivity and driving higher wages growth.”

The ACCI CEO said a new Labor government must also have a practical plan to ease the rising costs and supply chain bottlenecks holding back business. 

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“Streamlining regulatory settings and encouraging business investment will drive our international competitiveness, empowering business to grow,” Mr McKellar said. 

“Business, big and small, employs more than 11 million Australians.  Enabling enterprise to flourish is essential to continue rebuilding our economy and locking in prosperity for future generations.

“This is a critical time for our country, for business and for generations of Australians. Having overcome the pandemic and ensuing devastation to businesses right across industry, now is time to seize on our potential to unleash a new era of growth, opportunity and innovation.”

The ACCI acknowledged the Coalition and Scott Morrison for their leadership over the past three years, in particular throughout the pandemic, and the provision of crucial contributions in guiding the economy through unprecedented circumstances.

The Albanese Labor Government has pledged up to $15 billion of capital to invest in job-creating projects through loans, equity and guarantees in resources, agriculture, transport, medical science, defence capability, enabling capabilities, and renewables and low emissions technologies.

Labor has also promised to help drive the local manufacturing sector through renewable energy projects.

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