Election outcome a ‘worry’ for business


The prospect of a hung parliament and a Senate where a minor party holds the balance of power in its own right, is a worrying outcome for business, says Australian Industry Group Chief Executive Heather Ridout.

“It will potentially lead to instability, uncertainty and short-termism in policy development, all of which poses risks and challenges for the economy, Ms Ridout says. 

"Should they need to be called upon, we would urge the independents to commit above all to supporting stable government and we are encouraged by their early reassurances to this effect.

"Beyond that, business and industry is looking for a government committed to dealing with the hard issues and dealing with them competently.”

It is vital for Australian business to have a Government that takes “a positive and long term approach” to lifting productivity and securing long-term prosperity.

"Australia is one of the few developed countries in the world, which, while facing challenges, also has a range of positive choices and growth opportunities available to it, says Ms Ridout. 

“Our essentially sound fiscal position, strong terms of trade and proximity to Asia, the emerging centre of world economic growth, means that we can approach the future with confidence.

"Ai Group will work constructively with whatever government is formed."

Related news & editorials

  1. 18.07.2018
    by      In
    3D printing with metals is affecting the way manufacturing occurs, and Australian distributor Raymax Applications reckons this is amply demonstrated by the application of SLM Solutions machines in metal manufacturing processes.
    SLM Solutions Group recently released its fourth generation 280 system... Read More
  2. 16.03.2018
    by      In
    In the 1960s, as much as a quarter of Australia’s workforce was employed in the manufacturing sector, and the industry fuelled 25% of the nation’s economy, according to the Productivity Commission. Half a century on, the closure of Toyota, Ford and then General Motors in October 2017 seemed to... Read More
  3. 24.01.2018
    by      In
    According to Southern Cross CEO, Mark Ferguson, if Australian industry really wants to get serious about saving energy then it needs to take a close look at ‘two-stage’, air compressor technology. As energy costs continue to outstrip other business input expenses it is critical, more than ever... Read More
  4. Martin Chappell
    by      In
    With Australia’s manufacturing industry strengthening, leaders and heads of IT are weighing up which new technologies they should implement to gain a competitive edge. Martin Chappell from Motorola Solutions explains how a simpler and more focused use of data can be the best approach.
    Australia’s... Read More