The summit brought together political and business leaders, policy makers, regulators and influencers to discuss the key challenges facing Australia’s business community.

The event gained an attendance record.

It was a telling sign that business wants to come to grips with the impact of the recent political turbulence.

And for political leaders to understand the risk to confidence when politicking is put ahead of policy making and political certainty.

There was an overwhelming desire expressed for sound long-term policies that will help business deliver the jobs, living standards and opportunities to which Australians aspire.

This sentiment was further reflected in the results of the latest Australian Chamber-Westpac Survey of Industrial Trends, also released last week.

While the survey results showed the outlook for Australian manufacturing remains positive, they also showed, alarmingly, that business confidence weakened significantly over the past quarter.

Of nearly 300 firms surveyed – only 22 per cent expect the general business situation will improve in the next six months. This is down from a net 37 per cent in June.

The weakening of business confidence over the past quarter is a powerful reminder that business is not immune from the uncertainty generated by the political turbulence that has dominated Canberra over the past two months.

Nor is business immune from the fierce competition dominating global markets or from global trade wars.

In recent years, we have fallen out of the top 10 of the world’s most competitive economies. Now we perch just inside the top 20.

Globalisation has dramatically altered the way we all ‘do business.’

And other nations, our partners and our competitors, are adapting their policy settings to better compete in the global market.

If Australia does not do the same we will be left behind, which means less investment, fewer jobs and missed opportunities for Australians who depend directly and indirectly on these for their livelihood.

To make Australia the best place in the world to do business, Australia’s businesses needs policy certainty, to give them the confidence to take risks, to invest, to grow, to create more jobs and to better compete in the global market.

This means cutting energy costs for our businesses, big and small; while ensuring reliability of power and gas supply, and meeting our emissions reduction targets.

This will be achieved by rebooting the key elements of the National Energy Guarantee and putting in place proposals from the Australian Competition and Consumer Commission.

This means fast tracking the tax cuts for small, medium and family businesses, which have already been passed by Parliament but not yet put in place.

And recognising we still need to have competitive company tax rates for all businesses to encourage new investment that will drive growth and create more jobs.

It means helping our industries grow, by putting in place a simpler workplace relations system that encourages increased productivity and makes it easier to hire and easier to manage in rapidly changing markets.

It means better transport and communications infrastructure to connect people to business and jobs in our growing regional centres and capital cities.

It includes new projects to provide more apprenticeships and increase investment in Vocational Education and Training.

At the same time as we are training and educating Australian men and women for the jobs of today and tomorrow, it means encouraging skilled migration to support regional and urban communities by making available people with the skills and experience our government and private sector need to deliver the services that Australians expect.  

And it means removing barriers to trade and red tape, which benefits local businesses and makes it easier for international businesses to operate in Australia.

With an election due within the year, the Australian Chamber wants to see the government led by Prime Minister Morrison recognise, with the Opposition led by Mr Shorten, that national leadership is a long distance race not a sprint.  

Bipartisanship on key issues that can make or break business should not be out of bounds.

Duncan Bremner, Director – Public Affairs & Advocacy, Australian Chamber of Commerce and Industry.