Australian Industry Group CEO Innes Willox has expressed optimism about the manufacturing industry, but says it should accept a high Australian dollar as the new normal.
The World Economic Forum Global Competitiveness Report has seen Australia’s ranking fall four places to 20th.
The priority for boosting productivity is deregulating the labour market, University of NSW vice-chancellor Fred Hilmer told a Committee for Economic Development of Australia event yesterday.
The Australian Industry Group/PwC Performance of Manufacturing Index crept up five points to 45.3 for the month of August, but the sector continues to shrink.
Yesterday’s decision to remove the floor price on carbon of $15 per tonne was welcomed by the sharemarket and the AIG, but some are saying it doesn’t do enough.
Former Prime Minister John Howard has suggested that individual contracts and unfair dismissal laws should be examined by Tony Abbott, the federal opposition leader.
A report shows expenditure on energy as a percentage of turnover increased by 10% between 2008 and 2011, as pressures mount from the carbon tax and rising electricity bills.
Allowing non-conforming products to saturate the market will breed non-compliant business models.
In worrying news for Australian manufacturers, industry activity dropped again during May, reaching its lowest level in nine months, according to an Australian Industry Group (Ai Group) report.
The Government’s promise to deliver a surplus in 2012-13 will come at a considerable cost to industry.
Upcoming changes to the superannuation levy will affect all businesses and the economy.
Manufacturing was back in the red last month, with production falling sharply to 43.9 PMI points, according to the latest Australian Industry Group – PwC Australian Performance of Manufacturing Index (Australian PMI).