CCIWA has urged Federal Government action to cut red tape, speed up approvals and modernise services to address Australia’s ‘productivity paralysis’.
“The government needs to ensure that industry can properly assess any changes for their impact on future projects,” Morey said.
He said the focus on speeding up environmental approvals was welcomed but warned against rushing reforms that could inadvertently harm investment.
“The link between environmental approvals and productivity is clear, and WA has more skin in the game than any other state because of the nature of our economy,” he said.
“Long waits for project approvals are not only a drain on productivity; they also expose us to the risk of losing investment altogether. Approval delays are also contributing to the housing crisis.
“The Federal Government has heard loud and clear from WA industry on this issue and we’re hopeful the next iteration of environmental approvals reforms will reflect this and take a common-sense approach.
“Critically, the government must enable industry to road-test any new laws to ensure they are fit for purpose.”
Watch Aaron Morey outline the changes that could supercharge Australia’s productivity below >
Morey said it was clear some of the more alarming suggestions from unions during the summit were given short shrift.
“We saw calls for businesses to be taxed more or be levied for training costs, as well as specific new taxes on the resources industry,” he said.
“These kinds of lazy policies would drive away jobs and investment, and it’s clear the Government has seen that it must not go down such a dangerous path.”
The roundtable also featured robust discussion on the role of artificial intelligence in the workplace.
“WA is well placed to make even greater use of AI and automation in our industrial sector,” Morey said.
“AI doesn’t need to be a scary concept. It can enhance competitiveness and in turn allow businesses and industries to expand and create more jobs.
“The role of AI in workplaces and the safeguards required will continue to be an ongoing national conversation.”
New WA Productivity Commission to target investment and economic growth
Earlier this week, CCIWA welcomed plans to establish a state-based Productivity Commission, saying it would help strengthen WA’s economy and help attract more investment.
The WA Productivity Commission – a merger of the Economic Regulation Authority and Infrastructure WA – would give WA policymakers the research and economic rationale to make key decisions.
“We’re on the brink of a new era for our economy in WA with huge opportunities to diversify into areas like critical minerals, data centres, defence and advanced manufacturing,” he said.
“We’re competing for that investment with the rest of the world. If we want to capture those opportunities, it’s crucial that the settings are right to make sure we lure global investment to this state.
“That means making sure our approvals system isn’t a barrier to investment and growth, and our economy is as productive as it can be.”
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