"The Australian Industry Group congratulates the Prime Minister, Anthony Albanese, and the Labor Party on their clear victory in the 2025 election, held at a time of increasing economic and geopolitical uncertainty," said Innes Willox, Chief Executive of national employer association the Australian Industry Group.
"The re-elected government will need to deal with our current national economic and security challenges, which have become increasingly complex. The challenges for Mr Albanese’s new government will be immense.
"This is the toughest time in a generation to be a business. The economy is growing at its weakest pace since 1991, when Australia was last in recession, with only surging public spending keeping our head above water.
"We have seen a significant uptick on business closures - 151,000 established businesses last year – driven by the steady decline in profits, increased costs and rapidly growing regulation.
"Boosting our productivity, which will ensure future Australians have better living standards and higher wages, must be a national priority.
"Our tax system is crying out for real reform and we need a connected and coherent skills system which future proofs the workforce.
"Industrial sectors, which are key to reaching our net zero aspirations and addressing the housing crisis, face very difficult conditions and need urgent assistance to enable them to become more internationally competitive and resilient.
"Ensuring we have an affordable and reliable energy system at a time when it is under enormous stress must be a priority for the government.
"None of these are new problems, but the international context makes them more urgent and harder to achieve.
"Each day sees more global trade disruption, greater market interventions, the building of trade barriers and the risk of global conflict. As a highly trade-exposed economy, we will not be immune to the consequences of the rapidly changing global landscape.
"As a nation we will need to address these issues sooner rather than later. We look forward to working with the new government to allow our businesses, employers, their employees and communities to prosper.
"We would also like to acknowledge the long service and contribution to Australia by Peter Dutton across a range of difficult government portfolios and as the Leader of the Opposition. We wish him and his family all the best for their future,” Mr Willox said.
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