Wednesday 24 April 2024

Are you ready for the 26th August 2024?

Is your business ready?

We're heading back to the '70s with Labor's anti-business and anti-employment legislation.

26th August 2024 is the date for Labor's anti-business and anti-employment legislation to take effect.

Albanese/Chalmers 1.0 is Whitlam/Cairns 2.0 and has not even a smidgeon of resemblance to Hawke/Keating

The Winners

  • Industrial Relations lawyers
  • Big business
  • Unions
  • IT developers

The Losers

  • Small business
  • Casual employees
  • Sub-contractors

My Predictions

I'll stick my neck out with the following predictions;

  • Businesses will reduce their headcount
  • Business Managers will automate where possible
  • Many business functions will move offshore where possible
  • Private investment will decline
  • Foreign investment will decline
  • Sovereign risk will be more of an issue as Federal and State Governments interfere with the economy
  • Many businesses will close
  • Inflation will rise
  • Unemployment will increase
  • Mortgage defaults will increase
  • The AUD will collapse once mining takes a dive

Throw in the economy destroying energy policies and the brake on productivity (it hasn't been good for a while in OZ) and China's slowdown, a volatile international situation and we have a perfect storm on the horizon.

Investment in (appropriate) technology, training and marketing may allow your business to survive.

Sadly, the majority of our politicians and union leaders live in a land of privileged delusion. Most have never actually worked for a living and obviously believe that Norman Lindsay's Magic Pudding is real and an economics guideline. 

Good luck.

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