The Victorian Chamber of Commerce and Industry is today launching our Back in Business Federal Election Platform, outlining six key reform priorities to drive economic growth, support businesses and secure Victoria’s future prosperity.
With Australia facing a slowing economy, skills shortages and rising business costs, the Victorian Chamber is urging the next Federal Government to put business at the centre of decision-making and implement policy settings that will enable businesses to thrive, create jobs and boost wages.
Back in Business outlines the reforms and policies businesses need to unlock investment, improve workforce participation and drive long-term prosperity.
The Victorian Chamber’s election platform identifies six key areas where immediate action in needed: a competitive tax system and smart regulation; fixing apprenticeships, addressing labour shortages and the future talent pipeline; affordable, secure and reliable energy; nationally coordinated enabling infrastructure; unleashing the competitive advantage of our regions and developing global industries while investing in digital technology and cyber security.
There are 23 recommendations which cover a comprehensive reform agenda designed to transform Australia’s economic landscape, including:
- Reduce reliance on personal income tax and cut company tax to 25 per cent for all businesses.
- Implement a performance-based funding model for states that reform their tax and regulatory systems.
- Reinstate apprenticeship incentives of $15,000 for small businesses and $12,000 for medium businesses.
- Remove international student caps to support the university sector and workforce needs.
- Deliver a long-term national gas and energy strategy to ensure affordable and stable energy supply.
- Fast-track housing approvals and remove state-based tax barriers to property investment.
- Facilitate private sector investment in infrastructure through reformed public-private partnerships.
- Develop a national freight system strategy to improve supply chain efficiency.
- Target investment in regional infrastructure, workforce development and business incentives.
- Expand support for businesses to enhance digital capability and cyber resilience.
- Secure new free trade agreements and remove trade barriers for Australian businesses.
For a full copy of the Victorian Chamber’s Back in Business Federal Election Platform, please email media@victorianchamber.com.au
To be attributed to Victorian Chamber of Commerce and Industry Chief Executive Paul Guerra:
“Business is the engine of the Australian economy and must be supported with the right policy settings. Business is the key to higher wages, higher living standards and a strong, prosperous economy. If we want Victoria and Australia to remain a great place to live and work, we must get back to backing business.
“The upcoming election presents a critical opportunity for bold, business-focused reforms. The next Federal Government must take decisive action to restore business confidence and create a more productive economy.
“The Victorian Chamber represents more than 100,000 businesses across the State, and we are hearing loud and clear that they are looking for policies that offer a competitive tax system, a clear plan for workforce and skills and a business-friendly environment.
“If we get this right, we can drive a new era of prosperity, create more jobs and ensure Victoria remains an economic powerhouse.
“Our message to all political leaders is simple: back business and you back a stronger Australia.”
Contact details:
Mikkayla Mossop - 0412 464 897