Hello from Melbourne!
Today marks the last day in the office at the IPA, it’s definitely one of mixed emotions. Over the course of the last three months I have been welcomed into the IPA family, and had the privilege of contributing work for a new deregulation agenda in Australia. Couple this with working on various legal rights and freedom of speech projects, and my expectations of what I was going to take away from this experience have been far exceeded!
This week my focus has been continuing my research, in collaboration with Morgan Begg, on the accumulation of environmental legislation since the early 1970s. However, I have also been doing research for Daniel Wild on the downward trend of private investment in Australia compared to competing economies since 2012.
Our research found that despite the government’s claim that non-mining investment would take the lead in boosting business growth, it has actually remained relatively stagnant whilst mining related investment has plummeted. Therefore, Australia is enduring a period of an overall decline in private sector investment.
This is one of the core issues facing the Australian economy, and is being inhibited by a obstructive structure and disincentive measures. These include excessive red tape strangling business owners, and a reluctance by politicians to cut the company tax rate to a competitive international level.
In order for Australia to encourage growth into the future, we must be more proactive in improving investment incentives with less red tape and lower tax rates.
Tonight after work will be my last social club and Friday drinks with the team, which will involve dinner and plenty of laughs. Not a bad way to end an unforgettable three months.
Signing off for the final time,