Australia an awful place to invest: Business Council of Australia

Date: January 17, 2025Author: Editor, cairnsnews 10 Comments

Northern Territory leading the way to curb Labor’s stumbling blocks: Pic Chief Minister Lia Finocchiaro

By Jim O’Toole

The Northern Territory Country Liberal Party administration is fed up with the myriad of Labor’s restrictive development policies, cruel mining regulations, extortionist wage demands and ridiculous union safety rules that make workplaces too safe to work. It is surging ahead with its proposed Territory Coordinator position which will bypass this regulatory nightmare to allow economic progress.

Forums have been held around the Territory to allow public input, revealing only the hopeless Labor Opposition party howling in the wind like an Ayers Rock dingo, lest the new Coordinator upsets an Aboriginal ambit land claim.

Six forums were held to engage residents, businesses, and stakeholders.

“The Territory Coordinator is about action, ambition, and outcomes,” Chief Minister Lia Finocchiaro said.

“It’s about creating a clear, efficient path for projects that will define the next chapter of the Northern Territory – projects that generate jobs, grow businesses, and attract global investment to our doorstep.”

Has PM Albanese had an AI malfunction?

According to the proposed legislation, once a project is declared “significant”, the Territory Coordinator can then set deadlines for government departments to provide approvals. If the project is considered to be of “major importance”, the Chief Minister and the controller could “step in” and run the assessment process to “ensure processes and decisions are made in a timely way”. An “exemption notice” could also be issued to exclude existing regulations from being used on the proposed project.

“The Territory Coordinator’s work will unlock the Territory’s potential as an economic powerhouse, ensuring we lead the nation in attracting large-scale developments,” Ms Finocchiaro said.

“Every Territorian has a stake in this – every job created, every dollar invested, and every project completed will strengthen our communities. I urge all Territorians to take this final opportunity to have their say.

Labor administrations have for decades placed immense environmental policy barriers against any development or activity, be it housing estates, new homes, roadworks, motor vehicle taxes, rural landowners, clearing, dams, irrigation water and farming.

The recalcitrant, UN policy-driven Labor Party and to a lesser extent the Liberal National Party have stymied housing development to such an impossible state that several multinational and national developers have either gone broke or shifted their operations overseas.

In 2021-22, there were 63,858 home building approvals nationally compared to 47,958 in 2023-24.

Whilst numerous building companies and their experienced staff were crucified by the Covid scamdemic, never to recover, Labor’s crippling environmental regulations have sent many builders out of business.

Aboriginal land claims and pseudo-cultural heritage sites have stopped real estate developments, mining projects, water storage and cost new road construction millions.

Australia is not a good place to invest according to the Business Council of Australia.

The past decade has seen the weakest productivity levels in 60 years and mining investment has dropped more than 60 per cent since 2012.

In any other country these results would have economists screaming depression, not a gamin recession as the political party duopoly likes to phrase it.

Coal miners have announced there would be no more coal exploration in Queensland and no more new mines. The Labor/Green alliance has its ugly head shoved so far up its ideological arse that it is unable to fathom that mining royalties, hence government income will suffer a significant downturn.

Pressing on with the worst ever, government-sponsored environmental damage on an Australia-wide scale the Labor mob under the skewed guidance of the moronic Minister Chris Bowen continue to wreck prime farmland and old-growth forests with inefficient, subsidised, massive wind generators, many thousands of kilometres of transmission lines, roads and tens of thousands of hectares of solar panels.

Farmers and regional communities are at their wits end witnessing this farmland destruction and aesthetic catastrophe in the name of an inefficient, renewable power supply

The Business Council summed up the country’s social morass quite well in June 2023:

“Wednesday’s National Accounts confirmed that Australia’s investment drought is not over. Capital spending by private businesses did rise in the first quarter, but only after a lengthy period of decline. Investment remains at around a 30-year low as a share of the economy.

Our farmers may disagree but, as droughts go, this is about as bad as it gets. Mining investment has dropped over 60 per cent since the 2012 peak, despite recent high commodity prices, but investment outside mining is weak too. As former Treasury Secretary Ken Henry says, business investment usually is this anaemic only during recessions.

We should remember that business investment matters to everyone, not just the firms involved. Prudent investment boosts the economy’s capital stock, allowing more to be produced for less, including higher quality goods. It’s also a key driver of productivity which, last decade, was the weakest in 60 years.

Workers should care because sustainable wages growth depends on generating faster productivity growth, supported by investment. The Productivity Commission found that since Federation, almost all wage gains have come from productivity growth. This means higher living standards for all Australians and more tax revenue for governments, too.

Something has gone seriously wrong, given the external environment has been providing tailwinds. For example, the terms of trade were the highest on record and the cost of finance, until recently, was low. And rates of utilisation of firms’ existing plant and equipment are at record highs. This normally is a trigger to expand capacity.

One interpretation is that, for all our obvious advantages, including our world class rocks underground, Australia has become a more difficult and expensive place to invest. Our tax system already was noncompetitive, particularly for larger companies, yet taxes on business are rising…..”

The village idiot, and unfortunately Labor Prime Minister Anthony Albanese stumbles around Australia unwittingly mimicking his idol and American counterpart, the deranged, kid-sniffing Democrat (Labor) President Joe Biden, who really is a bot according to our US sources.

Surely Albanese has not become a bot too, with an AI malfunction?

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Published by Nelle

I am interested in writing short stories for my pleasure and my family's but although I have published four family books I will not go down that path again but still want what I write out there so I will see how this goes

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