Competitiveness agenda: It's a start but is it enough?

14 October

CPA Australia’s Chief Executive Alex Malley today welcomed the government’s competitiveness agenda as a good start but cautioned that more needs to be done. 

“Australia’s future prosperity depends on us successfully meeting the competitiveness challenge.” Mr Malley said.

"The government’s initiative is a good start but we need to remember that Australia is playing on a global stage and we are competing for global talent and investment. We need to do better than our competitors, not simply match them."

“Issues around entrepreneurship support for innovators and boosting educational outcomes have been known to be the future drivers of success for some time.

“Proposed movement on employee share schemes is a good idea in that it provides incentives for start-ups and promotes entrepreneurship but we are already playing catch up with countries such as the UK and the US who already have these schemes in place. 

“Many other nations are making great strides in these areas, all of which underscores the need for Australia to act now – and to act boldly.”

CPA Australia last year released definitive research on Australia’s international competitiveness. The publication Australia’s Competitiveness: From Lucky Country to Competitive Country draws insights from 6,000 Australian and international business leaders and is the most comprehensive research conducted on the subject to date. 

Mr Malley said CPA Australia’s research put competitiveness on the public policy agenda. 

“Our research found clearly that competitiveness is everyone’s business and should not left to big business or government alone. If we are to get this right we need everyone to step up – government, businesses big and small, the union movement, academics and the community at large. 

"Our relatively strong economic performance over recent years has hidden significant structural issues and has created a sense of complacency towards much needed investments and reforms.

"We are now at a crossroads in terms of our ability to become one of the economic powerhouses of the Asia Pacific region. If we don’t get this right we run the risk of losing out to faster-growing Asian nations who are set to overtake many OECD countries in the coming decade. 

"If we are to successfully compete with other nations in the Asian century, Australia needs to put in place bold, far-reaching and sustained strategies that will enable us to create stronger links with Asia, harness new and emerging opportunities, and leverage key markets in the Asia Pacific region and a changing global economy.” Mr Malley said. 

Media contact:
Bryce Prosser on 0416 968 444