The business unit is calling on the Australian Government to temporarily raise the level of migration of skilled workers to address the severe labor shortages exacerbated by the loss of labor due to the COVID-19 pandemic.
The Australian Business Council (BCA), an industry group consisting of more than 100 CEOs of Australia’s largest companies, has made many recommendations to the Australian Government on a wide range of topics in its 2022-23 budget submissions. going. ..
In particular, the council recommended raising the annual permanent skilled migration limit to 220,000 in the next two fiscal years before the federal government returns to 190,000 from 2024 to 2025. ..
A spokesman for the Interior Ministry told the Epoch Times that Australia’s immigration program was carefully designed to achieve a variety of economic and social outcomes that meet the needs of the country, taking into account many factors.
“The size and structure of the permanent migration program is set annually,” said a spokesman.
“When planning an immigration program, various factors are considered, including stakeholder views, short-term and long-term economic and social needs, and the need for reunion of Australian families.”
The council also recommended that the pre-election budget issued on March 29 be focused on improving labor skills.
The proposal included a new ambitious National Skills Agreement that is expected to better align training with the needs of learners and their employers. In addition, the government also called for the boosting apprenticeship start wage subsidy to be extended to another 12 months at a discounted rate.
Jennifer Westacot, Chief Executive Officer of BCA, said:
“The country has moved beyond waiting for the COVID to reach its end. You can no longer sit down and wait for it to return to normal.”
Westacot said increasing government spending wasn’t the right approach to accelerating economic recovery.
“It’s about enabling businesses to take the baton and drive private sector-led growth faster and more sustainably,” she said.
Meanwhile, the BCA offers more women to return to work and advance their careers after having children by proposing a shared caregiver paid parental leave bonus that helps couples share their parents’ responsibilities. I wanted to help.
In the tax arena, the BCA sought support for countries wishing to implement the necessary tax reforms. For example, the federal government can help eliminate stamp duty by providing the state with an explicit guarantee that it will not suffer any disadvantages in the distribution of GST revenue.
At the same time, the council told the Ministry of Finance that the 25% corporate tax rate sales threshold was $ 250 million ($ 180 million), $ 500 million, or instead of the current $ 50 million level. I asked for it to rise to $ 1 billion.
The federal government has also proposed reducing the tax rate for all businesses from the current 30% to 25%, if financial conditions permit.
In addition, the BCA has proposed a 20% investment allowance for all companies to further improve their investment.
The council also wanted the government to send a positive signal to foreign investors by allowing regular and trusted clients of the Foreign Investment Review Board to access prompt approval lanes.
A Treasury spokesman said the federal government did not comment on budget speculation.