Business Leaders React to Albanese’s Re-Election Victory with Key Priorities

The re-election of Prime Minister Anthony Albanese and his Labor Government has received warm congratulations from Australia’s leading business organisations, with both the Business Council of Australia (BCA) and the Australian Chamber of Commerce and Industry (ACCI) expressing their readiness to collaborate with the government in addressing the nation’s most pressing economic challenges.

Bran Black, Chief Executive of the BCA, extended his congratulations to the Government on its historic victory, emphasising the critical role businesses will play in tackling the uncertainties facing the nation. “I congratulate the Government on its election victory, and confirm business stands ready to roll up its sleeves and assist in working through the biggest challenges facing our nation,” Mr Black said.

The BCA acknowledges the many global and domestic challenges Australia faces, from trade tariffs to shifting demographics, and calls for a productivity agenda focused on supporting business growth. “We must control what is within our scope to control, and that means establishing policy settings that facilitate national prosperity by supporting businesses to thrive,” Mr Black stated. He added that a focus on productivity, unlocking investment, and driving growth in the private sector would be crucial to boosting living standards and increasing real wages.

The BCA highlighted the Albanese Government’s positive steps in its previous term, including enhancing trade opportunities and leveraging federal support to aid State and Territory productivity. “These actions, along with harnessing AI, creating better investment attraction settings, and achieving a balanced approach to industrial relations, are all fundamental to boosting productivity and increasing prosperity for all Australians,” Mr Black explained.

The Business Council’s five key priorities for the upcoming parliamentary term are: improving living standards, increasing skills, boosting housing supply, delivering sustainable health and care services, and achieving an affordable and reliable pathway to net zero. “Business is at the heart of the solution to each of our greatest challenges and opportunities,” Mr Black said, emphasising the sector’s central role in Australia’s economic output and employment.

The ACCI also congratulated the Albanese Government on its victory and expressed a willingness to work closely with the government to address critical issues for Australian businesses. CEO Andrew McKellar reaffirmed the importance of the private sector in driving economic growth. “The role of the private sector is essential and we stand willing to work constructively with the government to improve productivity and competitiveness,” he said.

According to Mr McKellar, the immediate priorities for business include improving global trade relations, addressing productivity challenges, reducing the regulatory burden on businesses (particularly small businesses), and improving energy costs and reliability. “We need to make it easier for businesses to employ more Australians to create more jobs, more investment opportunities and grow the economy,” he added.

The ACCI further stressed the importance of continued collaboration with the government to enhance Australia’s position in global trade. “We’ve worked actively with government on global trade and will continue to maintain our Team Australia efforts to deal with the challenges and headwinds of the global trading environment,” Mr McKellar noted. He expressed confidence that, with continued cooperation, Australia would be in a strong position to negotiate favourable outcomes in global trade discussions, particularly in relation to the changes brought about by the US administration.

Both the BCA and the ACCI are committed to working in partnership with the Albanese Government, with the aim of fostering a robust and prosperous economy that supports businesses of all sizes, drives innovation, and creates job opportunities for Australians.

As Australia faces a dynamic and challenging global landscape, the business community stands ready to collaborate with the government to ensure long-term prosperity for the nation.

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