The hopes that business may have held in May are now receding as Labor’s true spots emerge in the critical areas of workplace regulation and Australia’s net zero carbon transition.
reveals that the leaders of some of the nation’s biggest and most important businesses think the Albanese government got off to a good start, including in stabilising the fractured relationship with China, Australia’s biggest customer.
Yet, the hopes that business may have held in May that the new government would be business-friendly in the model of the Hawke-Keating government are now receding asemerge in the critical areas of workplace regulation and Australia’s net zero carbon transition. There is no sign of a Hawke-Keating-style incentive-sharpening growth and productivity agenda to confront what Australia’s chief executives warn will be a tougher year for the economy amid slower growth, stubbornly high inflation and higher interest rates.Instead, amid the rise of identity politics, Labor’s economic agenda is more about the zero-sum redistribution of wealth from profits to pay packets and from “greedy” resources companies to ordinary punters’ hip pockets.
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