National Accounts Another Wake-Up Call

“Today’s National Accounts release is another wake up call for the need for policies to boost competitiveness, lift economic growth and see our way through upcoming economic challenges,” Business Council of Australia Chief Executive Jennifer Westacott said.

“Today’s accounts showing growth of 0.3 per cent in the September quarter reveal an economy struggling to transition from the resources boom into broader based growth.

“The country desperately needs policies to get the budget back on track, make our tax system more competitive, improve workplace performance and lower the regulatory burden on business.

“Today is also a wake-up call to the Senate that it cannot play games with policy reforms that are in the national interest.

“Business investment fell in the quarter and will need to improve to lift growth. Going forward, business needs policy certainty and stability that creates the right conditions and confidence to invest.

“The policy chaos and uncertainty created by the Senate not facing up to Australia’s challenges undermines the national interest,” 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