Business Council of Australia

MYEFO shows that we need a private sector-led recovery that is built on an investment environment that backs businesses and promotes Australian success. Increased government spending unlinked to productivity gains makes it harder to bring down inflation and ease cost-of-living pressures. Our regulation, investment and innovation settings all influence our ability to attract capital, boost productivity and drive a private sector-led recovery, and we need a much greater focus on all three.

The Business Council is pleased to see the Albanese and Allan Governments working to establish the Melbourne Polytechnic Future of Housing Construction Centre of Excellence. As outlined in the BCA’s ‘It’s time to say yes to housing’ report, Australia currently faces labour shortages across its construction industry which is a handbrake on the Commonwealth’s goal of building 1.2 million homes in the next five years. This centre is a step in the right direction to address the critical skills needed for our workforce to deliver on Australia’s housing needs. You can read our full report here: https://bit.ly/49FLtSt

This week the Business Council of Australia attended the Advanced Capabilities Industry Forum (ACIF), where trade associations from the United States, United Kingdom and Australia met to discuss the challenges and opportunities presented by AUKUS Pillar 2. 🇺🇸🇬🇧🇦🇺 The forum centred on the role of industry in leading the development of AI, quantum technologies and cybersecurity. It’s clear from the discussions that Pillar 2 requires unprecedented collaboration between governments and industry to harness advanced technologies and boost our innovation. #AUKUS #ACIF

The Business Council is pleased to see BCA member Microsoft harnessing AI to boost Australia’s competitiveness and skills. Microsoft’s newly announced AI Skills Initiative will equip one million Aussies with digital skills by the end of 2026. Sharpening Australia’s digital capability through programs like this is essential to ensure we remain a competitive destination for business amid a growing digital economy.

With the release of ‘Regulation Rumble’, Business Council Chief Executive Bran Black joined Patricia Karvelas on Australian Broadcasting Corporation (ABC) RN Breakfast to discuss our findings and why South Australia came out on top as the best place to do business in 2024. You can read the full interview here: https://bit.ly/3OFRBAw

In the The Australian Financial Review Business Council Chief Executive Bran Black writes about the maze that is Australia’s payroll tax system. The BCA is calling for a National Reform Fund to incentivise states and territories to harmonise their polices such as payroll tax and make it easier for Australian businesses to operate with less red tape holding them back. See the full opinion piece here: https://bit.ly/4fYjobA

The Business Council released our second edition of ‘Regulation Rumble’ which found that South Australia was the best place to do business in 2024. BCA Chief Executive Bran Black met with Premier Peter Malinauskas outlining the need for states and territories to compete to have the best regulatory settings Regulation Rumble is about starting a conversation about the need for governments to uplift Australia’s business environment to attract investment and improve global competitiveness. Read the full report here: https://bit.ly/3CVwJTn

International Day of People with Disability aims at boosting the community’s awareness, understanding and acceptance of Australian’s living with a disability. The BCA is focused on amplifying leadership opportunities and greater economic access for people with disability. By having leaders from all walks of life, we create better and more inclusive economy that will support productivity growth. A more inclusive economy has the potential of adding an extra $50 billion to gross domestic product by 2050. That additional boost to GDP would place Australia in the top eight OECD countries for employing people with disabilities. The BCA, along with Coles Group, Woolworths Group, Kmart Australia Limited and Target Australia are part of the Career Pathways Pilot led by the Australian Disability Network which is funded by the Australian Government Department of Social Services (DSS). This pilot is aimed at demonstrating ways that people with disability can enter the workforce and advance their careers.

The Business Council has launched our second edition of ‘Regulation Rumble’ which looks at state and territory regulation, red tape, planning and tax to help jurisdictions assess their competitiveness and win more business investment. Our report found that South Australia came out on top, having the best regulatory, tax and planning settings for doing business in Australia. It is critical that the states and territories learn from each other so that Australia can collectively prosper and increase its global competitiveness. You can read the full report here: https://bit.ly/3CVwJTn

Congratulations to Premier Peter Malinauskas and South Australia for coming out on top of our 2024 Regulation Rumble report, as the state making it easiest to do business. This is, above all, a race to the top, and our report shows there’s scope for all states and territories to focus on what they can do to encourage business activity - so as a nation, we all prosper. You can read our full report here: https://bit.ly/3CVwJTn Business Council of Australia