The Business Council of Australia (BCA) chief, Bran Black, will deliver a sharp critique of Prime Minister Anthony Albanese’s industrial relations policies during a speech at the Council’s annual dinner in Sydney on Tuesday.
Black will claim that the government’s recent workplace reforms are causing major employers to invest overseas rather than in Australia.
Insolvency stats to be cited
Citing data showing 1,200 businesses declared insolvency in July 2024, Black will highlight the growing concerns among executives about the impact of increased regulation and taxes on the country’s economic attractiveness.
“I now have members — major employers — who are actively choosing to invest overseas rather than in Australia,” Black is expected to say.
This speech marks the second time in just over a week that Albanese has faced criticism from key business groups over his government’s economic and industrial policies.
Last Monday, Minerals Council of Australia chief executive Tania Constable warned of workplace conflicts due to Labor’s reforms.
Black’s speech will also reference the government’s intergenerational report, which predicts declining living standards, rising budget deficits and growing public debt.
Reversing tax reform, workplace laws
He will call for bold policy actions, including reversing recent workplace laws and introducing tax reforms, such as replacing stamp duties with land taxes.
In response, Prime Minister Albanese has defended his government’s track record, noting the creation of nearly one million jobs since Labor took office in May 2022.
He has emphasised that his administration is aligned with the BCA’s priorities on issues like housing affordability, cost of living and workforce skills.
“That’s a good thing that we’re in sync on what the priorities are,” Albanese said.