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The chief executive of the Australian Industry Group warns that the Coalition’s departure from core principles in the energy transition will threaten investment in Australia.
Innes Willox told ABC Radio National this morning: “The fact that we have a difference of opinion between two major rival parties is a cause for concern for us because it removes the framework for investment that businesses can make for decades to come.”
Australian Industry Group Chief Executive Innes Willox.Credit: Alex Ellinghausen
“Business needs as much certainty as possible to invest. It also needs certainty to invest on a large scale.” [in] This is what has held us back in the past when it comes to key policy parameters and energy-related investments; lack of policy uncertainty.”
He said there was always room for discussion, but there had to be some basic agreement.
“When you start taking away or playing with some of the fundamental principles here, [gives] “The business issue is a reason to think about what happens next.”
He said energy prices were on businesses’ agenda but more information was needed on Coalition policy to show it would reduce prices.
“Obviously the Coalition is making a move there and we’ll have to see how that plays out,” he said.
