AFTER FIFTEEN YEARS OF SOLID UNBROKEN ECONOMIC GROWTH HAS IMPRINTED UPON THE NATION A MINDSET THAT IS BECOMING INCREASINGLY MORE ASPIRATIONAL ANDFA R M O R E M O R E C O N F I D E N T T H A NEVER BEFORE. THIS BASIC FUNDAMENTALREALIGNMENT HAS THE POTENTIAL AND IFTH I S I S HARNESSED TO L I F T AUS TRAL IATHE NATION BEYOND ITS CURRENT LEVELSOF PROSPERITY, SECURITY AND ELEVATED ELEVATED GLOBAL STANDING. IT ENJOYS NOW. THIS IS WHY THE BCA IS SEEKING TOHARNESS THIS EMERGING NEW MINDSET BYSETTING OUT NEW AND BIGGER AND LARGERREFORM CHALLENGES AND LIFTING THEBAR EVEN HIGHER ON WHAT IS NEEDED TOLOCK IN AUSTRALIA’S FUTURE PROSPERITY AND NOT JUST FOR THE CURRENT ECONOMICGROWTH CYCLE, BUT WELL INTO THE FUTURE

ANNUAL REVIEW 2006PASSING ON PROSPERITY: SETTING OUR SIGHTS HIGHER

ANNUAL REVIEW 2006

2 THE YEAR IN REVIEW 2 PRESIDENT’S MESSAGE 6 CHIEF EXECUTIVE’S MESSAGE 10 TASK FORCES 12 BUSINESS REFORM 18 EDUCATION, SKILLS & INNOVATION 20 EMPLOYMENT & PARTICIPATION 22 SUSTAINABLE GROWTH 24 TRADE & INTERNATIONAL RELATIONS 28 OUR PEOPLE 30 MEMBERS 31 HONORARY MEMBERS 32 BOARD MEMBERS 33 SECRETARIAT 34 TASK FORCE MEMBERS 36 REPORTS 38 SUBMISSIONS

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AUSTRALIA’S PROSPERITY, SECURITY AND GLOBAL

STANDING CAN BE LIFTED TO HIGHER LEVELS THROUGH

BOLDER ECONOMIC REFORM SUPPORTED BY A

RENEWAL OF AUSTRALIA’S FEDERAL–STATE

RELATIONS

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THE YEAR IN REVIEW

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FIFTEEN YEARS OF UNBROKEN ECONOMIC GROWTH HAS IMPRINTED UPON THE NATION A MINDSET THAT IS BECOMING MORE ASPIRATIONAL AND MORE CONFIDENT THAN EVER BEFORE. THIS FUNDAMENTAL REALIGNMENT HAS THE POTENTIAL – IF HARNESSED – TO LIFT THE NATION BEYOND EVEN THE LEVELS OF PROSPERITY, SECURITY AND ELEVATED GLOBAL STANDING IT ENJOYS NOW.

Australia has undergone many changes in the past decade. But one very signifi cant change has escaped much attention.

It has not occurred at a level that is easily captured or recognised by traditional political or economic analysis. Nor has it been a subject of detailed reporting or commentary in the nation’s media.

Rather, this change is occurring at a more fundamental level – in the minds of the Australian people, and how they view themselves and their place in the world.

PRESIDENT’S MESSAGEMR MICHAEL CHANEY AO

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MAKING THE MOST OF AUSTRALIA’S GROWING CONFIDENCEAs part of its policy and advocacy work, the BCA actively seeks to understand the community’s view of business and the economy, and the reform issues the BCA should be tackling for the potential benefi t of Australia.

Progressively over the past two years, as we have been consulting with the community about their opinions, concerns and aspirations for Australia and its place in the world, a signifi cant shift in the Australian mindset has become apparent.

This shift can be best summarised in terms of a transition from ‘battlers’ to ‘aspirants’. Rather than being inward looking and risk-averse, we believe Australians are developing a renewed pride in their work, their nation and their place in the world.

They are becoming more likely to accept risks and meet challenges, here and overseas, with confi dence. Instead of being fearful of change or waiting for others to provide, as a nation we are now becoming more likely to seek out new challenges, or as one respondent to our consultation work put it: ‘To go out and knock on the door’.

Australia now has the highest per capita rate of share ownership in the world. We have high levels of employment opportunity and fi nancial security. We now have the capacity to look beyond our basic needs and focus on more complex, longer-term challenges.

Fifteen years of unbroken economic growth has imprinted upon the nation a mindset that is becoming more aspirational and more confi dent than ever before. This fundamental realignment has the potential – if harnessed – to lift the nation beyond even the levels of prosperity, security and elevated global standing it enjoys now.

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TACKLING LONG-TERM NATIONAL CHALLENGESIn recognition of this emerging new mindset, the BCA’s policy perspectives are being reshaped to refl ect a more aspirational, longer-term agenda of reform.

The BCA’s ‘Locking in Prosperity’ agenda – the focus of our work for the past two years – has centred on major reform of tax, regulation, infrastructure and workplace relations.

This agenda was framed to fi ll an immediate vacuum in the policy agenda of governments and has played a major part in focusing government attention on the need for ongoing reform in these areas.

RATHER THAN BEING INWARD LOOKING AND RISK-AVERSE, WE BELIEVE AUSTRALIANS ARE DEVELOPING A RENEWED PRIDE IN THEIR WORK, THEIR NATION AND THEIR PLACE IN THE WORLD

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Yet over the course of this work, one thing has been made abundantly clear. As a nation, we risk confronting every 10 or 20 years the same reform barriers and economic imbalances that we are tackling now if we do not address a number of key underlying issues.

Failure to resolve them will mean continuing to expend our energies and resources on minimising the impact of our weaknesses, rather than building upon our strengths and advantages.

MODERNISING AUSTRALIA’S FEDERAL SYSTEMFirstly, we need to fi x our dysfunctional system of federal–state relations. In a federal system, major economic and social challenges, now and in the future, cannot be solved by one tier of government alone.

While there is, at the moment, a good deal of cooperation and a new willingness between Canberra and the states to jointly progress reform in areas such as infrastructure and red tape, we can’t be sure how long that cooperation will last.

Too often history has shown us that federalism involves the national interest being subverted to parochial issues and political theatre.

That is why we need more collaborative responses and structures embedded in the way our governments work together so they can strategically address major challenges across the board – not just select issues for action that are politically palatable or responses to day-to-day tactical concerns.

BUILDING A COMPETITIVE SERVICES SECTORThe BCA’s second emerging policy priority is focused on governments, business and the community doing much more to develop and support our service economy.

Services are now the major drivers of growth in the global economy and will increasingly dictate Australia’s future growth prospects.

Yet it is clear from even the most cursory examination of Australia’s developing two-tiered economy that we need to broaden and deepen this sector’s contribution to our success in a modern global economy.

Failure to do so will expose us to a real risk of growing imbalances in our economy and disproportionate impacts when the inevitable downturn in our resources boom eventuates.

UNDERSTANDING THE SOCIAL ROLE OF BUSINESSThirdly, we need to promote deeper awareness of the quality and scope of business investment in the community.

The ‘battler’ mindset sees business as disengaged from the community and sees the process of value-adding and profi t-making being for the benefi t of a select few.

The aspirant, who is invariably also a shareholder, property owner or some other form of investor – in other words, a large proportion of contemporary Australia – should see it in a different way.

Yet business reputation remains low and we clearly need to do more to inform the community of the scope and role of business in creating value not just for the economy, but also society – that is, for everyday working Australians and their families.

One way to achieve that is to get the message out more forcefully that corporate Australia is delivering fi nancial resources, expertise and other programs to the community that, in aggregate, represent a huge social investment.

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THE YEAR IN REVIEW

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Better understanding of this social investment can help build a better understanding of the role of business in the modern world. This, in turn, should lead to better policies that support the contribution of business to our economy and society.

INCREASING AUSTRALIANS’ PARTICIPATION IN PROSPERITYThe fourth policy area is how we can increase participation in prosperity.

The vast majority of Australians have fared well materially over the past decade. Yet there are many in our community who – because of cultural, economic or other social or physical constraints – remain outside the mainstream of the economy.

As a result, a decade of unprecedented prosperity has largely passed them by. The challenge for both government and business is to extend real opportunities for workforce participation to these Australians so they can directly engage in the economy.

The imperative here is not just to offset a decline in workforce numbers by maximising job participation as our population ages. Extending participation opportunities to as many Australians as possible is the best and most sustainable way to make sure we remain a fair and equitable society.

SETTING OUR SIGHTS HIGHERI believe the emerging mindset positions us as a nation to tackle problems that a decade ago would have seemed intractable, and to see these issues through to lasting solutions.

Australia’s success as an economy means we are now in the fortunate position to fund solutions to these longer-term barriers. The last 10 years have demonstrated that we can compete at all levels and across sectors with the best in the world – in business, academia, sport, science and entertainment – and win.

We have also displayed remarkable qualities of leadership and initiative. Australia’s outpouring of generosity to its regional neighbours following the 2004 Boxing Day tsunami, along with its guardian role in East Timor and the Solomon Islands, are cases in point.

I believe it is both the role and responsibility of business, which is continually competing and succeeding at all levels around the world, to lead the way in recognising this shift and identifying new opportunities to make our nation even better.

That is why the BCA is seeking to harness this emerging new mindset by setting out new and bigger reform challenges and lifting the bar even higher on what is needed to lock in Australia’s future prosperity – not just for the current growth cycle, but well beyond.

We will be developing and articulating this agenda in further detail over the next 12 months. I think it will prove to be another exciting chapter for the BCA and for Australia.

THE BCA IS SEEKING TO HARNESS THIS EMERGING NEW MINDSET BY SETTING OUT NEW AND BIGGER REFORM CHALLENGES AND LIFTING THE BAR EVEN HIGHER ON WHAT IS NEEDED TO LOCK IN AUSTRALIA’S FUTURE PROSPERITY – NOT JUST FOR THE CURRENT GROWTH CYCLE, BUT WELL BEYOND

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CHIEF EXECUTIVE’S MESSAGEMS KATIE LAHEY

Over the past two years, the energies of the Business Council have been focused on establishing the need for reform in key areas of the economy, and the specifi c actions needed to achieve the required changes.

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This work has centred on developing independent research into, and strong advocacy of, the reforms necessary to Australia’s tax, infrastructure, business regulation and workplace relations systems to lock in prosperity for the long term.

Our thesis is simple.

The prosperity currently enjoyed by many Australians has resulted from the economic reforms of the past two decades, but the benefi ts of those reforms are diminishing with time.

There is no better time to undertake reform than when the economy is performing strongly and we have the resources to make the adjustments needed to lock in sustained growth.

MS KATIE LAHEY

CHIEF EXECUTIVE’S MESSAGE

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Workplace relations changes have been put in place by Canberra, continuing the process of workplace reform undertaken during the past 20 years that played an important part in ensuring Australia’s prosperity.

Important changes in tax rates followed a major public debate, which helped recast the issue to focus on our current and future competitiveness.

GRASPING THE REFORM FUNDAMENTALSThe development of the BCA’s ‘Locking in Prosperity’ agenda was an integrated response to fi ll a vacuum in the public policy agenda and in broader terms, re-energise the reform debate in Australia.

After 15 years of consecutive growth and an extended period of political stability at both state and federal levels, it has not been easy for governments and policy makers to actively pursue a new reform agenda.

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OUR THESIS IS SIMPLE. THERE IS NO BETTER TIME TO UNDERTAKE REFORM THAN WHEN THE ECONOMY IS PERFORMING STRONGLY AND WE HAVE THE RESOURCES TO MAKE THE ADJUSTMENTS NEEDED TO LOCK IN SUSTAINED GROWTH

Australian governments are striving to take up the reform challenge and over the past year the BCA has been pleased to see that infrastructure renewal, workplace relations and tax reform, as well as cutting the regulatory burden on both business and the community, are now fi rmly on their agendas.

We have recently seen the Council of Australian Governments (COAG), composed of federal, state and territory leaders, re-establish itself as a national forum for pursuing economic and social reform. A coordinated approach by COAG is particularly important if we are to see lasting reform in infrastructure and regulation making. However, while reform commitments in these key areas are welcomed by business, they also need to be matched by concerted action.

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WE CANNOT – AND WILL NOT – REDUCE THE PRESSURE ON

GOVERNMENTS. THESE REFORMS ARE TOO IMPORTANT TO BE ONLY

PARTIALLY IMPLEMENTED

BUILDING EXPORT STRENGTH AND INNOVATIONThe BCA has also been active in other important areas of policy.

In the education and skills area, the BCA has redefi ned the discussion about innovation, which is critical for Australia’s future growth. We are now advocating a policy approach that not only supports research and development, but also encourages the development of broader innovation capacities.

On trade, the BCA has been consistently pressuring governments and other negotiators to achieve meaningful outcomes for multilateral trade talks, notably the Doha round.

We are also continuing to work closely with the Commonwealth Government to make sure the proposed China free-trade agreement produces an outcome that maximises the opportunities for Australian business.

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REMOVING BARRIERS TO PROGRESSRenewed reform debate and policy activity has not always led to progress.

We are still to see structural tax reform – particularly in business taxation. A globally competitive tax system that is subject to regular review is fundamental if Australia is to avoid playing catch-up with competing economies that are structuring their tax systems to secure more of the investment and jobs Australia is also vying for.

The pace of reform of Australia’s water system has been disappointing. A suffi cient source of supply is too often turned into scarcity, and this is looming as one of the biggest constraints on growth, particularly in major population areas.

Given the importance of both these areas to Australia’s future, the BCA will continue to provide independent research and analysis that strongly promotes the case for change.

SETTING NEW REFORM DIRECTIONSHaving helped put the reform ball in motion, the question posed now by the BCA is: ‘What are the underlying challenges now faced by Australia beyond the immediate reform issues, and how can we tackle them?’

For the BCA, an important result from the process of pursuing its ‘Locking in Prosperity’ agenda has been identifying and scoping more fundamental challenges to long-term prosperity.

Business will continue to push for long-term economic reform. The BCA’s emerging policy agenda includes federal–state relations, services, corporate social responsibility and more fundamental strategies to drive workforce participation. Each of these underlines the importance of business in driving long-term change in areas where government may not be ideally positioned to shape debate and articulate change.

We are making progress, and governments have been responding to the BCA’s ‘Locking in Prosperity’ reform agenda.

But we cannot – and will not – reduce the pressure on governments. These reforms are too important to be only partially implemented.

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BUSINESS HAS A RESPONSIBILITY TO

IDENTIFY OPPORTUNITIES AND SOLUTIONS TO

CHALLENGES TO MAKE OUR NATION EVEN BETTER

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TASK FORCES

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The past 12 months have seen real progress that has been suffi cient to break long-standing reform blockages in both areas. This augurs well for more substantial and lasting reform into the future.

The Business Reform Task Force continues to focus on two issues – major reform of Australia’s tax and business regulation systems – that are not just core concerns for the BCA and its Members.

They speak directly to broader issues of business, large and small, and to our economic competitiveness.

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BUSINESS REFORMTASK FORCE CHAIRMAN: MR ROBERT MILLINER, CHIEF EXECUTIVE PARTNER, MALLESONS STEPHEN JAQUES

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THE CONTINUING NEED FOR STRATEGIC TAX REFORMThis time last year, debate over tax reform had stagnated.

Record prosperity at a community and business level masked a number of signifi cant problems and dysfunctions within Australia’s tax system.

Governments continued to view changes to the tax system as more of a political opportunity, with tax relief being driven by critical points in the electoral cycle, rather than as a strategic mechanism to improve Australia’s competitiveness and leverage growth.

As a result of the lack of a strategic approach to tax reform, Australia began 2006 faced with a serious risk of declining competitiveness with its tax system.

Our rates of personal income tax, high compared to important competitors, were fast becoming barriers for Australia to retain and attract skilled and professional labour.

And while Australia’s headline corporate tax rate remained broadly in line with the countries it competes with for jobs and investment, more critically the overall amount of tax paid by business as a proportion of GDP continued to increase to well above OECD averages.

In its submission to the 2006–07 Commonwealth Budget the BCA repeated its call for tax policy to progress from being reactive and piecemeal, to strategic and proactive. The submission again highlighted the practices of governments throughout the developed world in structuring their tax systems and lowering rates to attract more of the investment and jobs that economies like Australia are seeking to attract.

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MAINTAINING AUSTRALIA’S TAX COMPETITIVENESS

In the wake of intense public and media debate over the need for strategic tax reform, in April the Commonwealth Government announced the results of a study into the competitiveness of Australia’s tax system.

The results confi rmed a number of BCA contentions, particularly the eroding competitiveness of Australia’s personal and corporate tax regimes. The study’s fi ndings in turn led to some important initiatives announced in the 2006–07 Commonwealth Budget.

These included cuts to top personal income tax rates and reducing a portion of the business tax burden by amending depreciation rules – initiatives that the BCA had been strongly advocating for some time.

+ AS THE BCA HAS ARGUED, RATHER THAN PLAYING CATCH-UP, AUSTRALIAN

GOVERNMENTS SHOULD AIM TO STAY AHEAD OF THEIR COMPETITORS BY SUBJECTING THE TAX SYSTEM TO REGULAR, INTERNATIONALLY

COMPARATIVE REVIEWS

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REFORMING BUSINESS REGULATIONAs with tax, the ongoing challenge for reforming business red tape is to convince politicians that regulation might be good politics, but that without thought or strategy, it is often bad business and economic policy.

It is acknowledged that regulation is important to protect and enhance signifi cant aspects of our society and economy. However, until recently, Australian governments typically viewed regulation as an expedient way of reacting – or more importantly, being seen as reacting and responding – to controversial issues of the day.

ENDING THE CULTURE OF REGULATORY EXCESSThe continuing work of the Business Council over the past year has been aimed at refocusing political thinking and action away from the ‘regulate fi rst, ask questions later’ approach to more robust regulation-making processes that serve both the community interest and economic growth.

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These changes are welcome. So too is the new language and approach by the Commonwealth Government emphasising the importance of assessing the tax system in terms of its international competitiveness.

MAINTAINING A PERMANENT WATCH ON THE TAX SYSTEMWhile these are real breakthroughs, they also illustrate how much more needs to be done.

At a time when Canberra’s spending commitments have become dependent on business tax receipts now worth more than $50 billion a year, Australia’s declining corporate tax competitiveness is not sustainable at either an economic or fi scal level.

The Commonwealth Government’s own projections show that the corporate tax take will increase by a further $6 billion over the course of this fi nancial year, further widening the business tax competitiveness gap.

Tax rates and regimes are changing at a very fast pace around the world. We remain concerned that despite changes in the 2006–07 Budget, there is still no systematic process for the strategic and competitive review of Australia’s tax regime.

In March the BCA released a paper, Keeping a Permanent Watch on Australia’s Tax System, calling for such a review to occur every two years. A strong budget surplus, delivered by strong business and economic performance, means we have the resources to fund the structural tax reforms needed to position Australia ahead of its competition.

The sophistication and scope of the tax reform debate this year also underscores that many Australians recognise both the imperative and opportunity we now have for lasting tax reform.

Now that the approach to and language of tax reform appears to have shifted to refl ect this debate, the BCA looks forward to much more progress.

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The BCA can claim some signifi cant successes in 2006, coming a little over a year after it released its Business Regulation Action Plan.

The document revealed that Australia’s regulation industry was growing out of control. The sheer volume of red tape produced by the Commonwealth and state governments had been growing three times faster than the economy, amounting to more than 30,000 pages of new legislation each year.

THE CONTINUING WORK OF THE BUSINESS COUNCIL OVER THE PAST YEAR HAS BEEN AIMED AT REFOCUSING POLITICAL THINKING AND ACTION AWAY FROM THE ‘REGULATE FIRST, ASK QUESTIONS LATER’ APPROACH TO MORE ROBUST REGULATION-MAKING PROCESSES THAT SERVE BOTH THE COMMUNITY INTEREST AND ECONOMIC GROWTH

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In response to this reinvigorated debate on over-regulation and its growing costs to the economy, the Council of Australian Governments, at its meeting in February 2006, agreed to elevate Australia’s regulatory blow-out to an issue of national policy importance.

STEMMING THE TIDE OF RED TAPEThe COAG announcement was signifi cant for two reasons.

First, Australian governments recognised the issue could not be properly tackled without a comprehensive approach to regulation reform at all government levels.

Second, by committing themselves to reforming the underlying causes of the explosion in red tape (including the lack of consistent analysis, and poor consultation), it raised the unique potential of systemic, rather than superfi cial and short-term reform being pursued.

The Prime Minister has also announced the fi ndings of the Commonwealth Government’s own inquiry into how it can stem the tide of regulation.

The inquiry, led by Productivity Commission head Gary Banks, listed a number of far-reaching recommendations to address the underlying problems that have given rise to the recent steep increases in red tape.

While many red tape reviews in the past have gathered dust, the Commonwealth Government acted on the 170 recommendations made by the Banks Taskforce with alacrity. Many of the recommendations adopted include the most important structural reforms called for by the BCA.

Individual states have also taken up the cause, embarking on their own internal programs to look at how they can tackle red tape at the source.

IMPLEMENTING COMPREHENSIVE REFORM, NOT JUST QUICK FIXESThese are all welcome signs that represent the potential for lasting reform, provided public agencies across Australia move swiftly to entrench new and better processes of regulation making into their operations.

This year, the BCA also developed a scorecard to check the various reform commitments against the actions of the Commonwealth and state governments and pressure them away from reverting to short-term political expediency with red tape making.

It is heartening that the Productivity Commission has since been charged by the Commonwealth Government to develop its own ‘scorecard’ to regularly measure the performance of all governments in keeping excessive red tape at bay.

Ultimately, the solution lies in reforms to how governments anticipate, rather than react to, threats and opportunities to Australia’s economic competitiveness. The BCA will continue to advocate strongly for the reforms needed to bring Australia’s regulatory blow-out under permanent control.

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Human capital, particularly education and skills, has re-emerged as a central theme of Australia’s reinvigorated reform agenda.

As federal and state governments have recognised, the next decade will be critical for Australia in this regard. The global economy is increasingly moving to reward economies that add value and create new markets using cutting-edge intellectual and knowledge content.

While Australia is at the international frontier of innovation in some areas of business, a major rethink of the concept is needed if the country is to make the most of its innovation potential.

The New Concepts in Innovation report found that:

+ Innovation does not necessarily occur in business research units, but reaches across all parts of a business as employees work to continually enhance the value of products and services to customers.

+ Customers are driving the need for – and the nature of – new forms of business innovation that in many cases involves re-assembling or repackaging existing knowledge, information or services to create additional value and new markets.

+ While business and the research community recognise the importance of fi nding effective ways to commercialise new ideas, innovation breakthroughs can and do go unrecognised because the fundamental concept of innovation is misunderstood.

From the BCA’s perspective, the challenge for Australia is how it can best identify and capture new knowledge markets and position our economy as a market leader in sectors dependent on human capital. Innovation is the key to achieving this objective.

REDEFINING THE INNOVATION DEBATEOver the past 12 months, the BCA has sought to reposition public and policy thinking about this important issue. The main objective of this work and advocacy has been to redefi ne debate about innovation in business and the workplace.

EDUCATION, SKILLS & INNOVATIONTASK FORCE CHAIRMAN: MR STEVE VAMOS, MANAGING DIRECTOR, MICROSOFT AUSTRALIA AND NEW ZEALAND

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Research and development – particularly at a manufacturing and technology level, which is how innovation is typically conceived – are still fundamental drivers in value-adding and economic growth.

However, the BCA believes the public debate, as well as policy, needs to encompass a broader defi nition and understanding of innovation. In March 2005 the BCA released a report focusing on broad-based innovation using the experiences and practices of a number of the BCA’s Member companies across a range of traditional and emerging sectors including IT, manufacturing, retail, banking, insurance and mining.

MORE THAN R&DThe report, New Concepts in Innovation: The Keys to a Growing Australia, found that businesses in Australia innovate through many ways other than traditional R&D activities to create new products and services.

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In particular, this broader concept needs be integrated into education and training systems so that individual skills and capabilities for innovation success, such as lateral thinking and teamwork, can be better developed within the workforce.

The report also highlights the need for governments to implement the BCA’s core reform agenda, which promotes cutting red tape,

more fl exible workplaces, and infrastructure renewal to underpin broad-based business innovation. New Concepts in Innovation has already resulted in a good deal of debate and policy discussion.

Over the next 12 months, the BCA will focus its innovation policy work and research on identifying specifi c priority areas of the economy where Australia can improve its innovation potential and capacity.

CREATING AN INNOVATION NATIONThe gap between innovation practice and policy is the reason why the BCA is now calling for an entirely new concept of business innovation to be embedded into the innovation debate – within public and economic policy, business strategy, workplaces and the community.

A MAJOR RETHINK OF THE CONCEPT OF INNOVATION IS NEEDED IF

AUSTRALIA IS TO MAKE THE MOST OF ITS INNOVATION POTENTIAL

+ 1519

At a broad level, the latest workplace reforms will sustain the productivity performance of our economy as Australia seeks to stay ahead of its competition. The reforms will also help to provide opportunities for those previously excluded from employment.

By strengthening the focus on enterprise-based agreement making and fl exibility, the reforms will increase the capacity of business to reward workers for their skills, effort and contribution.

In turn, this provides greater incentives for workers to upgrade skills and be accountable for their performance. These are important ingredients in generating higher productivity at the workplace and, in turn, economic growth.

Just as importantly, the reforms provide the incentive and means for employers to create more jobs for people who would otherwise be unemployed, or underemployed, as well as the conditions for more fl exible workplace arrangements that support ongoing participation in the workforce, particularly among women with families.

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EMPLOYMENT & PARTICIPATIONTASK FORCE CHAIRMAN: MR CHARLIE LENEGAN, MANAGING DIRECTOR, RIO TINTO – AUSTRALIA

20 +

THE POSITIVE IMPACT OF WORKPLACE REFORMRecord employment levels and steadily increasing real wages are no accident. They are the result of 20 years of workplace reform and its implementation, aimed at reducing barriers to job creation and participation and improving productivity.

As the BCA’s research has demonstrated, there are 315,000 more jobs for Australians as a direct result of two decades of continuing workplace relations reform. This represents the difference between Australia’s current jobless rate of around 5 per cent and more than 8 per cent unemployment had workplace reforms not been undertaken.

Every major workplace reform is accompanied by claims the Australian workforce will be worse off. The reality has, in each case, proved otherwise.

Because the latest workplace reforms will help sustain employment opportunities for Australians, bring many more into the workforce, and support higher productivity and therefore wages, the BCA believes the Commonwealth Government’s WorkChoices package of workplace reforms should be strongly supported.

Workplace relations reform has been at the centre of a good deal of policy and public debate in the past 12 months.

But the daily headlines and dire claims of opponents to reform have obscured more fundamental issues facing the nation, which the workplace relations changes aim to address.

BUILDING PRODUCTIVE AND REWARDING WORKPLACESThe vast majority of Australians are enjoying the many benefi ts of growth and prosperity – including increased personal wealth, property ownership and job security – sustained by 15 years of economic expansion.

Yet there are still many in our community who remain outside the mainstream of the economy. As a result, this unprecedented period of prosperity has passed them by.

The challenge for government, business and the community is to continually widen and deepen the conduits to prosperity. In a modern market economy, the most effective way of achieving this is to expand access to, and opportunities for, direct and sustained employment.

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EXTENDING WORKFORCE OPPORTUNITIES TO MORE AUSTRALIANSYet there are those at the very margins of our community – particularly Indigenous Australians, those with disabilities and unskilled individuals – who deserve far more progressive solutions to link them into the mainstream of the economy. And there are other groups whose participation in the workforce should be higher, including women and mature-aged workers.

Over the next 12 months, the work of the Employment and Participation Task Force will focus increasingly on identifying policy solutions to assist these groups to break through the barriers to workforce participation.

This is not about handouts. Decades of interventions based on that model clearly have not solved the problem. In a previous time, this challenge may have been dismissed as too hard, or not a priority.

Now we have no excuses, and indeed plenty of reasons – in particular fi nding ways to counter the declining number of new workforce entrants – to do more than we have to date.

The BCA’s thinking in this area over the next year will be guided by the same principle behind its support for WorkChoices: extending opportunities for workforce participation as far as possible remains the best way for Australia, amid its record prosperity, to remain a society offering opportunity and equity.

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In a major report prepared by the Sustainable Growth Task Force in March 2005, the Business Council highlighted the extent of

the problems across a range of infrastructure areas and how they were resulting in speed limits to growth.

The BCA’s Infrastructure Action Plan for Future Prosperity argued that a lack of spending on maintenance and expansion of roads, rail, energy and water systems – the basic building blocks of our economy and community – was not the main problem.

Instead, the failure of our infrastructure to keep pace with economic growth stemmed from the

lack of cooperative, coordinated planning between governments to identify and tackle infrastructure shortfalls and bottlenecks.

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That report created considerable interest and debate. As a result, governments and policy makers now broadly agree that lasting infrastructure solutions are achieved not through short-term, reactive responses, but require long-term, strategic and coordinated planning.

INFRASTRUCTURE REFORM AS A NATIONAL IMPERATIVEAt its meeting in February 2006, the Council of Australian Governments (COAG), which comprises the leaders of all Australian governments, elevated the challenge of fi xing Australia’s infrastructure shortfalls to an issue of national importance requiring ongoing COAG attention.

Given the fragmented and parochial approach that has often plagued infrastructure planning and provision in the past, this is a major step forward.

While there is no doubting the desire of leaders at all tiers of government to fi x the nation’s many infrastructure ineffi ciencies and bottlenecks, there remains a shortfall or vagueness in the detail around putting this willingness into action.

SUSTAINABLE GROWTHTASK FORCE CHAIRMAN: MR ROD PEARSE, CEO & MANAGING DIRECTOR, BORAL LIMITED

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The focus on infrastructure reform, and how best to align Australia’s continuing economic expansion with demands on its road, rail, water and electricity networks, have become central parts of the national reform debate.

That is why the Sustainable Growth Task Force has shifted its focus over the past 12 months towards identifying and promoting the steps needed to translate national agreement into specifi c outcomes.

The stakes are high. Research commissioned by the BCA shows that implementing a comprehensive infrastructure reform program, based on agreements reached by COAG, will deliver an extra 2 per cent in additional economic output for Australia after fi ve years. On the other hand, this research shows that the cost to the economy if governments delay implementation of the COAG program could exceed $10 billion a year.

ASSESSING PROGRESS ON INFRASTRUCTURE REFORM PROMISESTo this end, the Task Force has developed a comprehensive checklist of actions to be undertaken by all governments by the end of 2007 if the benefi ts of better infrastructure planning and development are to fl ow to the economy and community.

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The program of action – Benchmarking the Progress of Infrastructure Reform – involves milestones and performance indicators as well as clear benchmarks to monitor progress and outcomes.

Because the BCA has a deep interest in making sure that infrastructure supports and does not constrain growth, the Task Force will continue to issue further progress reports.

However, governments have prime responsibility for infrastructure planning – and only they can solve the problems. That is why greater urgency, transparency and accountability are imperative.

FIXING AUSTRALIA’S MAN-MADE WATER SCARCITYWhile we are seeing positive commitments to renewing infrastructure, much-needed reform of Australia’s water system lags behind.

LASTING INFRASTRUCTURE SOLUTIONS ARE ACHIEVED NOT THROUGH SHORT-TERM, REACTIVE RESPONSES, BUT REQUIRE LONG-TERM, STRATEGIC AND COORDINATED PLANNING

The BCA recently released a paper titled Water Under Pressure: Australia’s man-made water scarcity and how to fi x it, which highlighted how the nation’s water system and its management have effectively conspired to turn a suffi cient supply of water at its source into man-made scarcity.

As the paper outlined, the solutions are obvious: better planning for new infrastructure; pricing to refl ect the cost of the resource; and allocation of water resources to their most productive uses. What is missing is the political and policy will to effect change.

Continuing inaction is not an option. Current policies and water management practices that are effectively starving our major population centres of adequate water are now starting to impact on Australia’s future prosperity in a direct way. The BCA is now focusing on water policy and will step up the pressure on governments for real change in this crucial area of economic policy.

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TRADE & INTERNATIONAL RELATIONSTASK FORCE CHAIRMAN: MR JOHN W.H. DENTON, PARTNER & CHIEF EXECUTIVE OFFICER, CORRS CHAMBERS WESTGARTH

Major changes in the global trade environment rarely occur abruptly.

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Services are now the drivers of global growth. The sector generates 70 per cent of economic output among the world’s leading developed countries.

Australia is performing well as an economy, even after 15 years of continuous expansion. Yet, the minerals and resources sector is carrying a disproportionate share of current growth and prosperity, largely due to the China boom.

This two-track nature of Australia’s economy highlights the fact that while the resources sector is punching well above its weight, the services sector – which accounts for 80 per cent of our domestic output – is performing well below its potential in terms of export revenue.

Slow, yet often steady progress has marked the past 12 months in a number of bilateral and regional trade negotiations involving Australia. One advantage of incremental change is that it allows business and government to anticipate change more readily and have time to respond in a strategic and considered way.

CREATING A STRONGER SERVICES ECONOMYA key focus for the Trade and International Relations Task Force this year has been on Australia’s services sector, and in particular improving its competitiveness and market access to secure a bigger share of the rapidly expanding global market for services and intellectual capital.

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One only has to look at the latest Doha round of trade talks, where even the possibility of modest gains has been put on hold, to know that progress is more often incremental than revolutionary, if it occurs at all.

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WE NOW HAVE THE OPPORTUNITY TO TAKE CONTROL OF THE FUTURE BY MAKING THE MOST OF OUR CURRENT PROSPERITY TO REPOSITION AUSTRALIA AS A STRONGER AND MORE DIVERSIFIED EXPORT ECONOMY

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To this end the BCA has continued to push new policy thinking through this and other BCA Task Forces on how Australia can better position itself as a services export economy.

In an upcoming paper aimed at kick-starting debate on the importance of the services sector to Australia’s future, the BCA will examine the challenges in terms of sustaining the competitiveness of our services sector and how Australia can enhance market access and global opportunities in services.

LEVERAGING OUR RESOURCES BOOMThis is potentially a major challenge to our future economic security and one that we need to address while the economy is buoyant.

But while we are fortunate that as an economy we will continue to extract signifi cant value from the global market through our highly effi cient and competitive mining and resources industries, Australian-based business and governments need to focus much more on services industries and exports, given the value that global growth in services offers. To insulate our economy from unforeseen events or trends and fi nally move away from the perception that we are the region’s quarry we need to actively pursue ways to diversify our value-adding capacity as an export economy.

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ACCESSING NEW GROWTH MARKETSThe BCA continues to support Canberra in its efforts for greater trade liberalisation around services with our major trading partners. This should be a key outcome from any free-trade agreement with China, which is on the verge of a services sector explosion, and the BCA continues to actively lobby for agreement on meaningful outcomes in this area.

The BCA is also pushing for greater access to services markets in other bilateral trade agreements currently being negotiated in the region by the Australian Government.

Despite developments on these fronts, the Doha round continued to disappoint. While the BCA actively lobbied senior Doha participants, including the Europeans, to agree on meaningful change to underpin global trade liberalisation, signifi cant concessions and agreements were not achieved.

The BCA, together with other business organisations around the world, has been urging the World Trade Organization (WTO) to view the suspension of the Doha talks as a temporary halt. We have also been working with the Australian Government to fi nd ways to resume the Doha negotiations.

At the same time, the Doha round confi rmed that the trade destinies of comparatively smaller economies – like Australia – is ultimately in their own hands, and we have advocated giving bilateral and regional free-trade agreements a high priority. We now have the opportunity to take control of the future by making the most of our current prosperity to reposition Australia as a stronger and more diversifi ed export economy.

AUSTRALIAN-BASED BUSINESS AND GOVERNMENTS NEED TO FOCUS MUCH MORE ON SERVICE

INDUSTRIES AND EXPORTS, GIVEN THE VALUE THAT GLOBAL GROWTH IN SERVICES OFFERS

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OUR PEOPLE

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LEADERSHIP AND INITIATIVE ARE CENTRAL TO THE

DEVELOPMENT OF THE BCA’S POLICY AGENDA

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MEMBERSAS AT 30 SEPTEMBER 2006

Bendigo Bank GroupMr Rob Hunt AM

BHP Billiton LimitedMr Charles (Chip) Goodyear

Blake Dawson WaldronMr John Atkin

BlueScope Steel LimitedMr Kirby Adams

BOC LimitedMr Dave Taylor

Boeing AustraliaThe Hon. Andrew Peacock AC

Boral LimitedMr Rod Pearse

BP AustralasiaMr Gerry Hueston

Brambles Industries LimitedMr David Turner

Caltex Australia LimitedMr Desmond King

Citigroup Australia/New ZealandMr Stephen Roberts

Cochlear LimitedDr Christopher Roberts

Commonwealth Bank of AustraliaMr Ralph Norris

Computershare LimitedMr Stuart Crosby

Corrs Chambers WestgarthMr John W.H. Denton

Crane Group LimitedMr Greg Sedgwick

Credit SuisseMr Rob Stewart

CSR LimitedMr Alec Brennan

David Jones LimitedMr Mark McInnes

Deloitte Touche TohmatsuMr Giam Swiegers

Deutsche Bank AGMr Chum Darvall

DuPont Australia &New Zealand LimitedMr Hutch Ranck

EDS AustraliaMr Chris Mitchell

EnergyAustraliaMr George Maltabarow

Ernst & Young AustraliaMr James Millar

ExxonMobil Australia Pty LtdMr Mark Nolan

FOXTEL Management Pty LimitedMr Kim Williams

FreehillsMr Gavin Bell

GM Holden LtdMr Dennis (Denny) Mooney

Goldman Sachs JBWereMr Terry Campbell AO

Hanson AustraliaMr Leslie Cadzow

IBM Australia/New ZealandMr Glen Boreham

ING AustraliaMr Paul Bedbrook

Insurance Australia GroupMr Michael Hawker

James Hardie Industries N.V.Mr Peter Baker

Jones Lang LaSalle Australia Pty LimitedMs Christine Bartlett

JPMorganMr Rob Priestley

KPMGMr Doug Jukes

Leighton Holdings LimitedMr Wal King AO

ABB Australia Pty LimitedMr John Gaskell

ABN AMRO Australia Pty LimitedMr Angus James

AccentureMrs Jane Hemstritch

Accor Asia PacificMr David Baffsky AO

Adelaide Brighton LtdMr Mark Chellew

AGL Energy LtdMr Paul Anthony

Alcoa of AustraliaMr Wayne Osborn

Alinta LimitedMr Robert (Bob) Browning

Allens Arthur RobinsonMr Tom Poulton

Alumina LimitedMr John Marlay

Amcor LimitedMr Ken MacKenzie

Australia and New Zealand Banking Group Limited (ANZ)Mr John McFarlane

Australia PostMr Graeme John AO

Australian Stock Exchange LimitedMr Robert Elstone

Australian Unity LimitedMr Rohan Mead

AWB LimitedMr Gordon Davis

Babcock & BrownMr Phillip Green

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Lend Lease Corporation LimitedMr Greg Clarke

McDonald’s Australia LtdMr Peter Bush

Macquarie Bank LimitedMr Allan Moss AO

Mallesons Stephen JaquesMr Robert Milliner

MBF Australia LimitedMr Eric Dodd

Merrill Lynch International (Australia) LimitedMr Kevin Skelton

Metcash LimitedMr Andrew Reitzer

Microsoft Australia and New ZealandMr Steve Vamos

Minter EllisonMr Guy Templeton

Mirvac GroupMr Greg Paramor

Mitsui & Co. (Australia) LtdMr David Fukatsu

Morgan Stanley Australia LimitedMr Harrison Young

National Australia Bank LimitedMr John Stewart

Nufarm LimitedMr Doug Rathbone AM

O-I Asia Pacifi cMr Greg Ridder

OneSteel LimitedMr Geoff Plummer

Oracle Corporation Australia Pty LimitedMr Ian White

Orica LimitedMr Graeme Liebelt

Origin Energy LimitedMr Grant King

P&O Australia LimitedMr Tim Blood

PaperlinX LimitedMr Tom Park

Perpetual LimitedMr David Deverall

PricewaterhouseCoopersMr Tony Harrington

Promina Group LimitedMr Michael Wilkins

Qantas Airways LtdMr Geoff Dixon

Ramsay Health Care LimitedMr Patrick Grier

ResMed LimitedMr Rob Douglas

Rio Tinto – AustraliaMr Charlie Lenegan

Shell Australia LimitedMr Russell Caplan

SingTel Optus Pty LtdMr Paul O’Sullivan

St.George Bank LimitedMrs Gail Kelly

StocklandMr Matthew Quinn

Suncorp-Metway LtdMr John Mulcahy

Tattersall’s LimitedMr Dick McIlwain

Telecom New Zealand LimitedMs Theresa Gattung

Telstra Corporation LimitedMr Sol Trujillo

The Boston Consulting GroupDr Patrick Forth

Toyota Motor Corporation Australia LimitedMr John Conomos AO

Transurban LimitedMr Kim Edwards

UBS Australia and New ZealandMr Brad Orgill

Visy IndustriesMr Harry Debney

Wesfarmers LimitedMr Richard Goyder

Westpac Banking CorporationDr David Morgan

WH Soul Pattinson and Company LimitedMr Robert Millner

Woodside Energy LimitedMr Don Voelte

Woolworths LimitedMr Michael Luscombe

WorleyParsons LimitedMr John Grill

Zinifex LimitedMr Greig Gailey

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HONORARYMEMBERSAS AT 30 SEPTEMBER 2006

Mr Michael Chaney AOPresident

Mr Tony D’AloisioHonorary Member

Mr Hugh Morgan ACHonorary Member

Mr John SchubertHonorary Member

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AS AT 30 SEPTEMBER 2006

BOARD MEMBERS

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FROM LEFT:

MR MICHAEL CHANEY AO PRESIDENT BUSINESS COUNCIL OF AUSTRALIA

MR TONY D’ALOISIOHONORARY MEMBER BUSINESS COUNCIL OF AUSTRALIA

MR GEOFF DIXONCHIEF EXECUTIVE OFFICER QANTAS AIRWAYS LTD

FROM LEFT:

MR GREIG GAILEYCHIEF EXECUTIVE OFFICER ZINIFEX LIMITED

MR ANGUS JAMESCHIEF EXECUTIVE OFFICER ABN AMRO AUSTRALIA PTY LIMITED

MR CHARLIE LENEGANMANAGING DIRECTOR RIO TINTO – AUSTRALIA

FROM LEFT:

MR ROD PEARSECEO & MANAGING DIRECTOR BORAL LIMITED

MR JOHN STEWARTGROUP CHIEF EXECUTIVE OFFICER NATIONAL AUSTRALIA BANK LIMITED

MS KATIE LAHEYCHIEF EXECUTIVE BUSINESS COUNCIL OF AUSTRALIA

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AS AT 30 SEPTEMBER 2006

SECRETARIAT

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Ms Katie Lahey Chief Executive

Mr Steven Münchenberg Deputy Chief Executive

Ms Melinda Cilento Chief Economist & General Manager

Mr Mark Triffi tt Director, Strategic Communications

Mr Patrick Coleman Director Policy

Ms Allesandra Fabro Director Policy

Ms Freya Marsden Director Policy

Ms Maria Tarrant Director Policy

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AS AT 30 SEPTEMBER 2006

TASK FORCE MEMBERS

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+ Mr Kevin BrownExecutive General Manager People Qantas Airways Ltd

Mr Terry Campbell AOChairman & Chief Executive Offi cer Goldman Sachs JBWere

Mr Russell CaplanChairman Shell Australia Limited

Mr Mark ChellewManaging Director Adelaide Brighton Ltd

Dr Breen CreightonPartner Corrs Chambers Westgarth

Mr Tony D’AloisioHonorary Member, BCA

Mr Chum DarvallChief Executive Offi cer – Australia & New Zealand Deutsche Bank AG

Mr John W.H. DentonPartner & Chief Executive Offi cer Corrs Chambers Westgarth

Mr David DeverallManaging Director & CEO Perpetual Limited

Mr Geoff DixonChief Executive Offi cer Qantas Airways Ltd

Mr John EganSenior Executive – Offi ce of the President Toyota Motor Corporation Australia Limited

Mr Ian FliednerDirector – External Affairs BP Australasia

Dr Patrick ForthManaging PartnerAustralia & New Zealand The Boston Consulting Group

Mr Greig Gailey Chief Executive Offi cer Zinifex Limited

Mr John Gaskell President & CEO ABB Australia Pty Limited

Ms Theresa Gattung Chief Executive Offi cer Telecom New Zealand Limited

Mr Patrick Grier Managing Director Ramsay Health Care Limited

Mr Gerry Hueston President BP Australasia

Mr Rob Hunt AM Managing Director Bendigo Bank Group

Mr John AtkinManaging Partner & Chief Executive Blake Dawson Waldron

Mr Peter BartlettPartnerMinter Ellison

Ms Paula BensonGeneral Manager Corporate Affairs Alcoa of Australia

The Hon. Mark BirrellSpecial Counsel Minter Ellison

Mr Tim BloodChief Executive Offi cer P & O Australia Limited

Mr Alec BrennanManaging Director CSR Limited

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Mr Angus James Chief Executive Offi cerABN AMRO Australia Pty Limited

Mr Graeme John AO Managing Director Australia Post

Mr Doug Jukes National Chairman KPMG

Mr Charlie Lenegan Managing Director Rio Tinto – Australia

Mr John Marlay Chief Executive Offi cer Alumina Limited

Mr Rod McDonald Group Manager Human Resources Australia Post

Mr James Millar Chief Executive Offi cer Ernst & Young Australia

Mr Robert Milliner Chief Executive Partner Mallesons Stephen Jaques

Mr Denny Mooney Chairman & Managing Director GM Holden Ltd

Dr David MorganChief Executive Offi cer Westpac Banking Corporation

Mr Mark NolanChairman ExxonMobil Australia Pty Ltd

Mr Wayne OsbornManaging DirectorAlcoa of Australia

Mr Rod PearseCEO & Managing Director Boral Limited

Dr Noel PurcellGeneral Manager – Stakeholder Communications Westpac Banking Corporation

Mr Matthew QuinnManaging DirectorStockland

Mr Hutch Ranck Managing DirectorDuPont Australia & New Zealand Limited

Mr Stephen RobertsChief Executive Offi cerCitigroup Australia/New Zealand

Mr Greg SedgwickManaging DirectorCrane Group Limited

Mr Giam SwiegersChief Executive Offi cer Deloitte Touche Tohmatsu

Mr Guy Templeton Chief Executive Minter Ellison

Ms Alison Terry Executive Director, Corporate Affairs GM Holden Ltd

Mr Steve Vamos Managing Director Microsoft Australia and New Zealand

Mr Don VoelteManaging Director & Chief Executive Offi cer Woodside Energy Limited

Mr Harrison Young Chairman Morgan Stanley Australia Limited

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October 2005Corporate Taxation: An International Comparison

January 2006Benchmarking Reform Action & BCA Budget Submission 2006–07

March 2006New Concepts in Innovation: The Keys to a Growing Australia

REPORTS

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March 2006Benchmarking the Progress of Infrastructure Reform: Challenges, Milestones and Outcomes

March 2006Keeping a Permanent Watch on Australia’s Tax System

June 2006Regulatory Reform: A Scorecard to Measure Australia’s Progress

June 2006Modernising the Australian Federation: A Discussion Paper

September 2006Water Under Pressure: Australia’s man-made water scarcity and how to fi x it

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July 2005Australian Government Department of Education, Science and Training

Submission on the Future Demand for Science, Engineering and Technology Skills

August 2005Parliament of Australia Senate Employment, Workplace Relations and Education References Committee

Submission to the Inquiry into Workplace Agreements

September 2005Australian Government Department of Education, Science and Training

Submission on the Draft National Strategic Principles for Higher Education

September 2005Australian Government Corporations and Markets Advisory Committee

Submission on the Personal Liability for Corporate Fault Discussion Paper

October 2005 Australian Government Department of Education, Science and Training

Submission on the Research Quality Framework Model

October 2005Parliament of Australia Joint Committee on Corporations and Financial Services

Submission to the Inquiry into Corporate Responsibility

October 2005Productivity Commission Submission to the Study on the

Economic Impacts of Migration and Population Growth

November 2005Parliament of Australia Senate Employment, Workplace Relations and Education Legislation Committee

Submission to the Inquiry into the Workplace Relations Amendment (Work Choices) Bill 2005

December 2005Council of Australian Governments (COAG)

Submission to the COAG Skills Working Group Consultations

December 2005Australian Government Taskforce on Reducing the Regulatory Burden on Business

Submission to the Taskforce

December 2005Australian Government The Treasury Submission to the Budget Process

2006–07

SUBMISSIONS

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March 2006Australian Government Corporations and Markets Advisory Committee

Submission on the Treatment of Future Unascertained Personal Injury Claims

March 2006Australian Government Corporations and Markets Advisory Committee

Submission regarding the Corporate Social Responsibility Discussion Paper

April 2006 Australian Government Department of Employment and Workplace Relations

Submission to the Review of the Commonwealth Occupational Health and Safety (Commonwealth Employment) Act 1991

April 2006Australian Government Department of Employment and Workplace Relations

Submission to the Award Review Taskforce

May 2006The Honourable Chris Ellison MP, Minister for Justice and Customs

Submission on the Impact on Corporate Treasuries of the Proposed Anti-Money Laundering Legislation

May 2006PhillipsKPA Pty Ltd Submission to the Review of the Australian

Vice-Chancellors’ Committee

May 2006Australian Government The Treasury (Corporate and Financial Services Division)

Submission to the Corporate and Financial Services Regulation Review

May 2006Australian Government The Treasury (Competition and Consumer Policy Division)

Submission on Component Pricing – Trade Practices Legislation Amendment Bill (No. 3) 2006

July 2006WorkCover New South Wales Submission on Proposed Amendments

to the Occupational Health and Safety Act 2000

July 2006Productivity Commission Submission to the Study on Public Support

for Science and Innovation

August 2006New South Wales Independent Pricing and Regulatory Tribunal

Submission on the Investigation into the Burden of Regulation and Improving Regulatory Effi ciency Draft Report July 2006

REPORTS, PAPERS AND SELECTED SUBMISSIONS ARE AVAILABLE AT www.bca.com.au

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BUSINESS COUNCIL OF AUSTRALIA 42/120 COLLINS STREET MELBOURNE 3000 T 03 8664 2664 F 03 8664 2666 www.bca.com.au© Copyright November 2006 Business Council of Australia ABN 75 008 483 216. All rights reserved. No part of this publication may be

reproduced or used in any way without acknowledgement to the Business Council of Australia. The Business Council of Australia has taken reasonable care in publishing the information contained in this publication but does not guarantee that the information is complete, accurate or current. In particular, the BCA is not responsible for the accuracy of information that has been provided by other parties. The information in this publication is not intended to be used as the basis for making any investment decision and must not be relied upon as investment advice. To the maximum extent permitted by law, the BCA disclaims all liability (including liability in negligence) to any person arising out of use or reliance on the information contained in this publication including for loss or damage which you or anyone else might suffer as a result of that use or reliance.

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