Australia is in desperate need of economic reform. Productivity is low, private investment is stagnating, and Australians are personally struggling after nearly two years of a per capita recession.
Anthony Albanese has backed in his government’s critical minerals tax incentive despite concerns from mining groups – now echoed by the West Australian Labor government – about duplication of green tape and Indigenous consultation under the Future Made in Australia agenda.
Mining conglomerate Regis Resources will argue Tanya Plibersek’s decision to partially block the Blayney goldmine development in NSW was riddled with “irrelevant considerations” and used Indigenous cultural heritage as a trojan horse for environmentalism, court documents show.
As I’ve just returned from a week in North America learning from local business leaders, one thing is clearer than ever in my mind: if Australia is to be an attractive place for global businesses to invest, hire and grow, we need to get our skates on – and fast.
There is something seriously wrong with the federal budget.
Argentina’s economy emerged from a severe recession in the third quarter of 2024 in a milestone for libertarian president Javier Milei in his bid to end the country’s long-running crisis.
The Business Council is concerned an increase in government spending, shown in the Mid-Year Economic and Fiscal Outlook (MYEFO) will hamper a private sector-led recovery, which is critical to easing cost-of-living pressures and building a more competitive economy.
Another gold miner facing a heritage protection claim — this time near a producing mine — is adamant the challenge will not hurt its growth plans, despite there being no deadline on the Federal Government to deliver a verdict.
After a year in which a chorus of voices has constantly talked down the role of business, it was refreshing to hear Treasurer Jim Chalmers note that “the best kind of growth is private sector-led”.
As Australia grapples with a stagnant private sector, sticky inflation and declining living standards, it is obvious the economic model of the past 15 years is not working.
If ever an industry needed reform to cut costs for businesses and reduce living costs, it is shipping. Commerce is being crippled by rules Anthony Albanese devised as transport minister in 2012 to prop up the faltering domestic shipping sector.
On the 22nd November, people travelled from all over Australia, to come together in outback Australia to celebrate National Mining and Related Industries Day. The gala event was held at Santos’s Moomba gas field in South Australia.