"I appreciate the invitation to take part in the August economic roundtable and help come up with collective solutions to address our lagging productivity, reform our tax system and reduce regulations to boost investment and competitiveness," said Innes Willox, Chief Executive of national employer association the Australian Industry Group.
"The private sector, which employs around 80 percent of working Australians, has been clear about the challenges it faces with decarbonisation, digitalisation and diversification at a time of tepid domestic growth and increased global uncertainty and unpredictability," Mr Willox said.
"We face immense challenges in the years ahead to fulfil the aspirations we have. In the next decade or so we are expecting ourselves to deliver an Olympic Games, rapidly expand our defence and national security capabilities, build well over a million new homes, speed up our transition towards a net zero economy, adapt to massive technological change based on artificial intelligence and quantum computing, build major infrastructure works, increase our focus on industrial research and development, navigate a changing global trading landscape and carry on business as usual activities.
"In a decade from now, the world will be a very different place to where it sits now. What has got us to this point in terms of key policy settings and approaches clearly won't cut the mustard if we are to meet our ambitions to remain competitive, relevant, prosperous and dynamic as well as being fair and providing opportunities for all.
"A key question to consider is what will be required to make Australia investable – both domestically and internationally – as the world around us rapidly changes. This is why discussions around our tax settings and the need to focus on a serious deregulation agenda while looking ahead at how we adapt to technological change and boost our skills base will be crucial to our long-term success.
"The Government's focus on looking at ways to shift the dial on productivity and broader economic reform is both extremely welcome and timely. The economic roundtable is an opportunity for representatives from across the economy to come together to work constructively on potential solutions and opportunities to get Australia match fit for the challenges ahead.
"On behalf of the Australian Industry Group, I look forward to participating and working with other representatives to hopefully build agreements on priorities for long-term economic reform," Mr Willox said.
