The Business Council today released an analysis of the implications for business and the wider economy of the forthcoming Senate election.
BCA Chief Executive, Ms Katie Lahey, said the analysis has been prepared for BCA Members in response to the lack of public scrutiny and discussion of the economic and business policies of the minor parties in the Senate, and to ensure BCA Members are aware of the potential implications of the forthcoming Senate election.
The major outcome of the Senate election is likely to be the Australian Greens replacing the Australian Democrats as the largest of the minor parties.
This shift will have a significant impact on the ability of the next government to deliver its policy commitments. For business, there could be significant impacts on overall business conditions and the level and type of regulation and taxation that business faces.
An objective analysis of the Greens’ publicly stated business and economic policies shows that they do not support the economic reform program of the past two decades, despite this program delivering Australia’s current economic prosperity.
Instead, the Greens favour policies built on protectionism, barriers to foreign investment, government intervention and high taxes.
The analysis focuses on the less well known policies of the Australian Greens as the economic and business policies of the Australian Democrats are largely known from their voting record and public comments on key pieces of legislation.