Redundancies is the number one issue for employers, warns Ai Group | The Business | ABC NEWS
A landslide election victory has set labor up for the real possibility of a third term, with its agenda of expanding Medicare, renewable energy and housing. While that creates some winners, peak business is calling for certainty for investment, cutting red tape and a spotlight on wages policy. All this as the shadow of Donald Trump’s tariffs and trade war with China hang over our economy. Australian Industry Group chief executive Innes Willox says “we have enormous problems around skilling and education in the country. Our energy market and systems are not going to be fit for purpose for the years ahead.” He warns that jobs are risk, saying “for the past year, the number one issue that employers have been contacting and talking to us about is redundancies. They are finding it very difficult to continue to operate at the current staffing levels that they have.” According to CreditorWatch, insolvencies peaked last year. CreditorWatch chief economist Ivan Colhoun expects the Reserve Bank will cut interest rates in May, which should help businesses.
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