none
none

IR the biggest issue for business: survey

31-08-2010
by 
in 
IR the biggest issue for business: survey

Business ranks industrial relations as the number one policy priority for Government after the federal election, according to a new industry survey.

The survey, conducted by the Australian Industry Group, found almost a quarter of the 330 businesses surveyed (23.1 percent) named industrial relations reform as their top business policy priority for the government for the next three years.  

Businesses surveyed were from manufacturing, services and construction.

Manufacturing businesses ranked it as their greatest priority (31.3 percent).

The finding again reinforces the shortcomings of the current system, said AiGroup chief executive Innes Willox. 

“It is a message from business to all political parties that sensible changes must be made to the Fair Work Act to support productivity and job growth.” 

Mr Willox said the Federal Election should not be an excuse to put the necessary changes to the Fair Work Act in the “too hard basket.”

The survey also found that cutting red tape and regulatory burdens and implementing tax reform are major policy priorities for business.

Reducing red tape and regulatory duplication was the second highest policy priority overall and the greatest concern for small business. 

“This in large part reflects the onerous time commitment required of owner-managers in complying with regulatory obligations, said Mr Willox. “Reducing red tape and regulatory duplication is also a high priority for businesses in the construction sector, with over 40 percent reporting this as their highest priority.”

Reducing company tax rates and implementing tax reform was a particular concern for businesses in the services sector. More than a quarter of all service providers (26.5%) ranked tax reform as their top priority.

In addition to implementing the Henry Tax Review recommendation to cut the company tax rate to 25 percent, a number of respondents across the country also identified changing the Goods and Service Tax (GST) as a key part of a program of tax reform.

Top five business policy priorities for next government (on weighted average basis):

1. Industrial relations reform to boost productivity – Number one priority overall and major concern for manufacturers.

2. Reducing red tape and regulatory duplication – Second overall with 23 percent of respondents nominating it as their highest priority for the next government. This is a particularly important issue for small businesses and construction companies.

3. Reducing company tax rates and implementing tax reform – Renewed calls to implement Henry Tax Review recommendations including cutting company tax rate to 25 percent and revisiting GST.

4. Investing in physical infrastructure – It was ranked by 17 percent of businesses as their number one priority. Infrastructure investment was seen as a relatively high priority for NSW businesses.

5. Encouraging workforce skills and training – Encouraging workforce skills and training was a relatively high priority for construction businesses in Queensland and Western Australia where skill shortages have been particularly acute.

Full survey: http://www.aigroup.com.au/link/fU

Related news & editorials

  1. 14.11.2017
    14.11.2017
    by      In
    Australia should be doing more to reach out into the world and build a global export brand. 
    That’s the conclusion of a major review by the Committee for Economic Development of Australia (CEDA) report, and its conclusions are supported by export data, and comments from Christopher Pyne. 
    The CEDA... Read More
  2. Manufacturing grows despite automotive closures
    01.11.2017
    01.11.2017
    by      In
    Australian manufacturing continued to grow in October, despite the closure of both the country’s remaining automotive assembly plants. The Ai Group’s Australian PMI came in at 51.1 for the month, a figure that is still indicative of growth, albeit at a much-reduced rate than in recent months.
    It... Read More
  3. Celebrations in Copenhagen
    17.10.2017
    17.10.2017
    by      In
    Nilfisk has been successfully listed as an independent company on the Copenhagen Stock Exchange. To mark the event on 12th October, the leadership team, led by CEO Hans Henrik Lund, rang the opening bell to mark the historical milestone in the company’s history.
    “Nilfisk has successfully been a... Read More
  4. Senator the Hon Michaelia Cash
    09.10.2017
    09.10.2017
    by      In
    The Acting Minister for Industry, Innovation and Science, Senator the Hon Michaelia Cash, has launched the second round of the Australian Government’s $8 million Women in STEM and Entrepreneurship (WISE) grants programme, which is open to businesses, not-for-profits, education and research... Read More