Business Council Calls For New Commonwealth-States Contract

The Business Council of Australia has released a report proposing reforms to the Australian federal system.

The BCA says in the report: “In the past, the debate has been mainly framed around political and constitutional reasons for change. The extent of the problems and dysfunctions of the current system of federal–state relations – marked by a lack of consensus on national goals and consistent forward planning – is such that it has become a major barrier to future prosperity. The challenge of reforming federalism has now become an economic imperative. Currently, Australia has a system where the lines of responsibilities between the Commonwealth and the states have become chronically blurred and confused. We have a system in which, because of a growing lack of transparency and accountability, the quantity of government has taken precedence over quality.

“As the world becomes more complex and increasingly requires decision making that anticipates rather than reacts to 21st-century challenges, Australia needs a system of government that can manage issues critical to the future of the nation through collaboration and cooperation. It is time for a new contract between the Commonwealth and the States.”

The Business Council of Australia represents the Chief Executives of 100 of Australia’s largest companies.

BCA Booklet: Reshaping Australia’s Federation

The Business Council of Australia has issued a study of Australia’s Federation and proposed a 12-point plan of action.

The BCA represents the Chief Executives of 100 of Australia’s “leading”, or largest, companies. [Read more…]

Rodney Adler Sentenced To Four And A Half Years Jail

Rodney Adler was today sentenced to jail for four years and six months for his role in the HIH insurance collapse, with a non-parole period of two and a half years.

Rodney AdlerHIH collapsed in March 2001 with liabilities of $5.3 billion.

Adler, 45, pleaded guilty to four criminal charges of making false statements about a purchase of HIH shares and lying to obtain money from HIH for a company in which he had an interest.

Justice John Dunford said Adler’s offences displayed “an appalling lack of commercial morality”. [Read more…]

Corporate Welfare Cost $10 Billion In 2002-03

The Productivity Commission has released a report examining the extent of government assistance to Australian industry.

The full report is shown below.

The major findings of the Productivity Commission report.

The gross value of assistance to industry provided by the Australian Government was equivalent to over $10 billion in 2002-03. [Read more…]