1 November, 2019 We stand for business Presentation to RCCIWA
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Our Opportunity Challenge of economic reform Lack of political stability and Democratisation of information The need for a voice for WA trust in our institutions and rise of Big Data businesses • Economic conditions remain • Political instability has eroded • Information has been democratised • Business continues to feel increased challenging, global competition business and investor confidence in a digital age. Advice and content pressure from rising costs and intensifies, threat of trade war and available freely online but of varying increased compliance and • Perceived and real increases in global slowdown quality and reliability. regulatory requirements inequality despite Australia’s • Job security and job creation remain prolonged period of increasing • Digital first has become a major • Federal Government has criticised central to Australian political prosperity preference. Human interactions and business community for lack of conversation relationships still valued by business focus and support on economic • Globally, trust in our institutions and owners and employees issues • National appetite for economic the benefit they deliver to business reform is currently weak; widely held and the community is waning • Business owners, employees and • WA is different. There is a need for a view across political class that the community at large are time voice to advocate and represent WA • Emergence of distributed model of business community is not poor business across the State and the trust replacing traditional influential in the conversation nation hierarchical structures 3
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Our strategy Clarifying our vision, mission and mantra Vision Mission Mantra We believe in WA is the best place to Champion for business, live and do business promoting free enterprise good business 5
Strategic priorities A focused response to the changing face of advocacy and member co-operation Enhance member offering Activate new business models Optimise and grow commercial Foster WA as a great place to offerings do business • Refresh and better articulate the • Deliver the new digital platform • Increase revenue and profitability • Activate and engage with CCI’s member value proposition including member engagement from improved promotion, lead membership base to advocate on • Increase member engagement and communications plan management and utilisation policy issues • Deliver relevant communications • Leverage new opportunities to • Drive greater operating • Promote WA as a great place to / interactions engage, acquire and retain efficiencies do business • Implement a member retention members (e.g. training modules) • Target profitable tenders or • Foster increased trust in the WA program • Commercialise the new partnerships to diversify CCI’s business community • Drive member acquisitions opportunities such as new revenue streams and / or deliver • Increase employee across all segments membership offerings or white greater value to members understanding of CCI advocacy labelling positions 6
Key capabilities Greater member communication and Better use of data and analytics to improve cooperation member and commercial outcomes Develop and grow our people’s capabilities Increased collaboration and agility 7
Our values 8
How we help members 9
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Policy & Economics 13
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Business investment drives the WA economy Business investment & bank lending to businesses $b 25 Total business investment, WA 20 Business Total bank lending to businesses for construction investment has and purchase of real property, WA 15 stabilised 10 5 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Headline business investment will grow Business investment (annual) 90 80 Resources projects will 70 increase headline business investment by 6 per cent in 60 2019-20 and by 9 per cent 50 in 2020-21. 40 30 20 10 0 1990 1995 2000 2005 2010 2015 2020 Source: CCIWA, ABS
Consumption will recover Household Consumption Consumption Growth $ billion per cent 10 120 9 8 100 7 6 80 5 4 3 60 2 1 40 0 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 Household consumption Forecast Household consumption Forecast
Dwelling investment will respond to population growth Dwelling investment (growth) Dwelling investment $ bn per cent 20 14 15 12 10 10 5 0 8 -5 6 -10 -15 4 -20 2 -25 0 -30 Dwelling investment Forecast Dwelling investment Forecast
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Real impact of US-China Trade War
Worst Case Scenario – All Out Trade War After four years, world GDP is estimated to be around 3.5% lower in the event of an all-out trade war. Source: KPMG [2018]
Australia’s approach to trade and investment Our options for dealing with trade wars, depressed economic conditions and uncertainty Go hunting, build capability and Champion the system Pursue freer trade remove roadblocks High-level horse whispering Keep growing the pie Animal spirits Our close relationship with the US should be Recent spate of agreements including IA- Utilise current focus on regulatory reform to utilised to influence its approach on trade CEPA, HKAFTA, Peru support removal of impeding regs and non- tariff barriers for both investment and trade Coalition of countries Prioritise regional agreements Grow capability Team up with like-minded countries to Follow up TPP with securing RCEP (10 of Build SME capability esp. in food & protect the rules-based order, be engaged Australia’s top 15 trading partners) agribusiness, build people to people links, around how WTO can better function grow language capability Hit the hustings Unilateral removal of tariffs Hunt new markets Ensure Australians understand the benefits In the 80s the Hawke Government led the Don’t become too blinkered by Asian of free trade. Responsible for 1 in 5 jobs. Real way with economic reform through floating Century. China, India and ASEAN all income increased about $8,500 per capita the $A and unilateral removal of tariffs important but globalization means exactly from 1986-2016. that. Invest $ more wisely. 25
Policy Overview Local Jobs Bill Workforce Skills Red Tape & Deregulation Workplace Relations • Aims to support more • Industrial manslaughter and • Federal Government • Streamline WA: • Environmental approvals benefits from major projects WHS harmonisation response to the Joyce Review to the local economy of the VET sector • Ensuring Integrity and for the mining sector • Barriers to tourism • ‘Skilled Work Agreements’ are • Migration Occupation List Workers’ Benefits Funds attractions proposed to form part of the Review. Legislation • Standardising regulatory project approvals process • ‘Life of Project’ Agreements • National Apprenticeship Skills • Proponents required to practice and culture • Federal Deregulation: Needs List Review • Penalties for non-compliance report on work packages for • Food manufacturing suppliers and with employee entitlements • Becoming a first-time employment/training • Religious freedom legislation opportunities. employer • Comments due: • Commencing major • Local Jobs Bill end infrastructure projects • PC review of mining and October tober • Skilled Work Agreements resources sector end November ber 26
Policy Overview Infrastructure Privacy & Responsible Emissions & Climate Change Health & Community Defence Industry Information Sharing Services • EPA’s GHG Emissions • State Govt campaigning for Westport: • Workforce Project to • Shortlist of options released • Affects how information Assessment Guidance: full cycle docking of Collins class submarines in WA • CCIWA has concerns about • Relates to treatment of provided to businesses and understand and address • Co-location of sustainment government is handled challenges: assumptions, forecasting, emissions for major project • Implications for commercial- • Market-oriented, long term costs approvals work with operations is best practice, in the national • Draft due November, final Roe 8: in-confidence and I.P. demand-driven interest approaches to service • Issue has reached a political • Support more convenient version due early 2020 • Substantial economic and delivery • State impasse and efficient interactions • Support the industry’s • Congestion around te Cli lima mate te Change e Iss ssues es employment opportunities between government and Paper: r: • CCIWA supporting effort to deliver via a business Fremantle expected to • Outlines key issues facing skilled workforce • CCIWA recently held worsen Government campaign • Strong support for • Interactive workshop to be WA’s transition to low • Federal Government workshop with DPC carbon economy independent evaluation of run on 23 Octob tober er at CCIWA • Consultation open until 1 No announcement due late e • Feedback due end Roe 8 Nov • 34 registrations to date November ber/ea /early ly Dec ecem ember ber November ber
Our regional members 28
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