Letter to the editor- Australian Financial Review

August 18, 2016

 

A recent editorial in the AFR referred to a dominant “anti-big business narrative” in Australia.  Another recent article gave the Business Council of Australia (BCA) space to bemoan their lot and also complain that big business is unfairly under attack. The fact is that there is no anti big business campaign, viagra sale purchase there is an anti-dominant oligopolies campaign have no doubt.

 

The BCA is absolutely part of the problem as they defend behaviors that drag productivity down to dangerous levels.

 

For example, tadalafil clinic an OECD report from 2014 shows that Australian small and medium businesses are the 5th most innovative in the world and that Australia’s large businesses are the 21st most innovative in the world.  No surprise to see our SME’s confirmed as among the most innovative.  It is also not surprising to see our big business sector struggling as innovators as they have become lazy due to protection from competition, even the good ones are under constant stress from behaviors of these lazy dominant few. So where does the BCA sit on that?  They want no change to competition law.

 

Australian big businesses are also the worst in the developed and even the developing world when it comes to paying on time. We are last behind Mexico. Some will only pay 120 days after the invoice is lodged. When these two facts are combined we find that the big oligopolies are holding back innovation and productivity by dominance and by not paying in a timely manner. Other big businesses also cannot pay on time if the dominant oligopolies don’t pay them.  Where is the BCA on this?

 

With tax we know that most Australian big businesses do pay their tax where due but the few that don’t steal billions of dollars from Australia and also from developing countries who are desperate for tax dollars to alleviate poverty and grow their own economies. Where is the BCA on this?

 

This is worrying but can also be fixed with some changes to the policies, beliefs and practices that have created dominant oligopolies in Australia. Policies for all not just the big, incompetent and nasty is what Australia needs.

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