Michael Chaney attacks government over stalled tax and immigration reform
Michael Chaney criticizes government inaction on tax, productivity and immigration reform.
Michael Chaney, one of Australia's most prominent business leaders, chairs Wesfarmers and steps down next month. The 76-year-old attacked the Federal Government at Wesfarmers' annual meeting for failing to act on economic reform.
Since last year's economic reform roundtable, progress on productivity has been limited. Company and personal income tax rates remain too high.
Governments must work together to rebuild federal and state taxes. On immigration, housing concerns are driving policy.
This worsens skills shortages in care, hospitality and agriculture. It threatens universities' funding.
Weak productivity and low business confidence will stall investment. Wages will slow.
Governments will have less money to spend on services Australians value. Chaney has chaired Wesfarmers since 2015.
- 76 years old
- Chaney's age
- Chair since 2015
- Wesfarmers tenure
- Last year
- Reform roundtable
- Perth
- Meeting location
Why it mattersA major business leader has publicly criticized Australia's economic direction. His words signal real concern about whether Australia can attract investment that creates jobs.
AustraliaAustralia's tax competitiveness and capacity to attract business investment depend on reforms Chaney says the government is not delivering; labour shortages in key sectors could worsen.
✓ Claims checked against the source. checked 4 h ago
