Industry Growth Fund Sets the Right Course

“The establishment of an industry growth fund to help workers and firms in the automotive industry recognises the critical role governments play in assisting workers to up-skill for the jobs of the future,” Business Council of Australia Chief Executive Jennifer Westacott said.

“It is good to see that encouraging skills development and growth in high-demand sectors are at the heart of today’s announcement, as these are vital to ensuring Australia can play to its strengths.

“With the resources boom moving beyond the construction phase, all businesses and industry sectors will need to actively seek growth opportunities and improve their competitiveness in the years ahead.

“This is the only way we can tap into the growth of emerging economies in our region and drive jobs and growth in the future.

“Governments will need to tailor their policies to ensure businesses can be innovative, attract investment and secure the skills needed to compete in the global marketplace.

“The government’s National Industry Investment and Competitiveness Agenda, due to be released later this year, will need to identify industry-specific reforms that help foster a more competitive business environment in Australia. This will need to be complemented by sensible reforms to the tax and industrial relations systems and measures that drive investment in productive infrastructure,” Ms Westacott said.

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2603 | Mobile 0403 241 128