BUSINESS OUTLOOK IMPROVES DESPITE REGULATION

Written on the 5 December 2013

BUSINESS OUTLOOK IMPROVES DESPITE REGULATION

AUSTRALIAN directors are confident about the economy since the election but are concerned about red tape and regulation, according to the latest Director Sentiment Index (DSI).

The Australian Institute of Company Directors’ DSI end of year survey shows director sentiment jumping 14 points to its highest point since 2011, but remains pessimistic.

Chief executive John Colvin says the improvement follows growing optimism about business and consumer confidence.

“This seems to be, at least in part, fuelled by a dramatic improvement in the perception of the new government,” Colvin says.

For the first time in the survey’s history, the majority of directors (55 per cent) agreed that ‘the current government understands business’ – compared to 8 per cent in April.

The outlook on the US economy’s future is increasingly pessimistic, while Asia continues to be positive and Europe considered the weakest.

Colvin says directors list regulation, global economic uncertainty and low productivity growth as Australia’s biggest economic challenges.

“More than 60 per cent of directors believe that the level of red-tape and the time spent by the board on regulatory compliance has increased over the last 12 months, with more than 70 per cent of directors identifying workplace health and safety and preparing and paying taxes as the aspects of their business most affected by red tape,” he says.

Infrastructure is rated as the top policy priority for the Federal Government, followed by improving productivity.

“This survey has a clear message – business is telling Government loud and clear, that reducing the regulatory burden, both through cutting existing red tape and taking a more efficient approach to creating any new regulation, must be a priority.”


Latest News

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

QUEENSLAND WEATHER UPDATE: MAJOR AIRPORTS STILL IN BUSINESS DESPITE CANCELLATIONS AND DELAYS

DESPITE the storms and flash floods which are continuing to wreak havoc across several Queensland cities and towns...

STARS ALIGN AS GOLD COAST ICON REBRANDS

TODAY marks a shift in the Gold Coast's constellation as the iconic Jupiters Hotel and Casino officially rebra...

OROTON GOES CLICKS AND BRICKS AS PROFITS SLIDE

TWO former Aussie lawyers have turned their passion for fashion into a $15 million dollar international business six ...

Related News

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter