Growth, productivity improvements and a need for Canberra to remain disciplined in its fiscal settings are among the key issues facing the Australian economy, the chief executives of BHP Billiton, Qantas and Wesfarmers have told The Australian.
BHP Billiton’s Andrew Mackenzie argues Australia must further deepen its links with Asia while there is an “urgent” need to lock reform of the tax system to ensure revenue keeps up with changes in the nation’s economy and business landscape.
Qantas chief Alan Joyce believes finding the means of funding the infrastructure needed to lift national productivity and help realise the nation’s economic potential.
The comments are part of The Australian’s exclusive survey of the nation’s business leaders to be published tomorrow.
More than 70 chief executives of the nation’s biggest companies — from resources to banking -have spoken frankly to The Australian about their view of the market outlook; the major concern of their clients and the top three “big picture” issues facing the nation.
Among chief executives surveyed include Commonwealth Bank’s Ian Narev, Westpac’s Gail Kelly, Woolworths’ Grant O’Brien, Telstra’s David Thodey, Rio Tinto’s Sam Walsh and ANZ’s Mike Smith.
Amid the sharp price falls in iron ore and oil, BHP’s Mr Mackenzie acknowledges the market outlook “remains challenging” for a number of commodities in the short-term. However he said demand for BHP’s globally traded commodities remains strong.
“The gradual shift from construction to consumption in the Chinese economy, and a return to more sustainable levels of growth reinforces the need for Australia to continue to improve its competitive position and lift productivity in every industry — not just resources,” he says.
Wesfarmers chief executive Richard Goyder also acknowledges tax reform is in need for focus. The head of the Perth-based retailing conglomerate is upbeat about the outlook for corporate Australia.
“We are well situation to the growth region of Australia,” Mr Goyder says.
This news story is reprinted from www.businessspectator.com.au
Read more details on Financial Outsourcing Services
BHP Billiton’s Andrew Mackenzie argues Australia must further deepen its links with Asia while there is an “urgent” need to lock reform of the tax system to ensure revenue keeps up with changes in the nation’s economy and business landscape.
Qantas chief Alan Joyce believes finding the means of funding the infrastructure needed to lift national productivity and help realise the nation’s economic potential.
The comments are part of The Australian’s exclusive survey of the nation’s business leaders to be published tomorrow.
More than 70 chief executives of the nation’s biggest companies — from resources to banking -have spoken frankly to The Australian about their view of the market outlook; the major concern of their clients and the top three “big picture” issues facing the nation.
Among chief executives surveyed include Commonwealth Bank’s Ian Narev, Westpac’s Gail Kelly, Woolworths’ Grant O’Brien, Telstra’s David Thodey, Rio Tinto’s Sam Walsh and ANZ’s Mike Smith.
Amid the sharp price falls in iron ore and oil, BHP’s Mr Mackenzie acknowledges the market outlook “remains challenging” for a number of commodities in the short-term. However he said demand for BHP’s globally traded commodities remains strong.
“The gradual shift from construction to consumption in the Chinese economy, and a return to more sustainable levels of growth reinforces the need for Australia to continue to improve its competitive position and lift productivity in every industry — not just resources,” he says.
Wesfarmers chief executive Richard Goyder also acknowledges tax reform is in need for focus. The head of the Perth-based retailing conglomerate is upbeat about the outlook for corporate Australia.
“We are well situation to the growth region of Australia,” Mr Goyder says.
This news story is reprinted from www.businessspectator.com.au
Read more details on Financial Outsourcing Services
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