Mike Smith urges reform
(20 October 2010 – Australia) Australia and New Zealand Banking Group’s (ANZ) chief executive officer, Mike Smith, has urged Australia’s government to commit to "bold economic reform" to maintain Australia’s growth.
The group’s CEO also said that the government needs a "new platform of consensus around sustaining national competitiveness".
Mr Smith’s comments echo fears expressed by the senior management of Australia’s largest companies that a hung parliament will create reform "stagnation".
Speaking from the Trans-Tasman business circle lunch in Melbourne, Mr Smith noted that without a renewed commitment to bold economic reform and productivity improvements, Australia’s growth rates would not be sustained.
'Right now in Australia, as we begin a new era of politics with a minority government and, from next year, a Green Senate, it is timely for business -- especially those of us with businesses that are outward looking -- to provide a reminder of the bigger picture that is before us.', Mr Smith said.
Mr Smith warned that businesses had to play their part.
"We all have a responsibility. I think if businesses don’t actually call the questions then it is difficult for the government to know if they are doing it right or wrong." Mr Smith added.
Mr Smith’s comments echo fears expressed by the senior management of Australia’s largest companies that a hung parliament will create reform "stagnation".
Speaking from the Trans-Tasman business circle lunch in Melbourne, Mr Smith noted that without a renewed commitment to bold economic reform and productivity improvements, Australia’s growth rates would not be sustained.
'Right now in Australia, as we begin a new era of politics with a minority government and, from next year, a Green Senate, it is timely for business -- especially those of us with businesses that are outward looking -- to provide a reminder of the bigger picture that is before us.', Mr Smith said.
Mr Smith warned that businesses had to play their part.
"We all have a responsibility. I think if businesses don’t actually call the questions then it is difficult for the government to know if they are doing it right or wrong." Mr Smith added.
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