WA’s peak business group the Chamber of Commerce and Industry WA has today released a detailed reform agenda to bolster WA’s economic recovery.
The plan offers policy actions to keep costs low, improve regulation, strengthen skills and infrastructure, and re-enter the global market – critical goals for our economic revival. With key survival and adaptation phase measures secured through productive consultation with government, businesses are rightly looking ahead to the safe reopening of the economy and how to recover.
In the coming recovery phase, the greatest imperative will be to make businesses stronger, our economy more competitive and better poised to create jobs. Our reliance on inefficient taxes means our system is actively disincentivising action that would improve growth.
Shifting away from stamp duty and payroll tax would make it easier to buy a house and cheaper to create jobs. These taxes stunt wages, weaken the economy and hinder Western Australians from living closer to their preferred jobs, their family and their friends. Under our plan, a revenue-neutral transition would have land tax take on more of the job of funding the State’s essential services.
It is also important that current barriers to business adaptation be resolved. This includes letting businesses adjust their operations – to develop new products, change their mode of delivery, or move premises – without imposing additional fees and delays. Reform to our system of regulation should go even further, with specific measures introduced to actively facilitate and promote innovation in emerging technologies like automation, drones, artificial intelligence, machine learning and 3D printing.
The proposals in our roadmap represent a generational choice, offering a pathway to boosting the horsepower of our economic engine. We are optimistic that our decision-makers are ready to face these complex issues, and look forward to continuing the important collaborative work with all levels of government that has helped to foster WA’s success.
The full reform roadmap can be found here