16-November-2011
Portfolio Media Releases
A new survey of company directors has confirmed that the dreadful performance of the minority Gillard government and its complete lack of understanding of business is killing confidence.
"This is totally consistent with the feedback of disillusionment I have been receiving from boardrooms right across the country over the past 12 months," Shadow Finance Minister Andrew Robb said today.
The Directors Sentiment Index prepared for AICD (Australian Institute of Company Directors) found that nearly 70 per cent of over 500 directors surveyed believed the poor performance of the Gillard government was having a negative impact on their business and nearly 90 per cent believed it was hurting consumer confidence.
Most damning was the finding that more than 80 per cent of directors surveyed said the Gillard government “lacks an understanding of business”. On top of this 62 per cent believe the carbon tax will have a negative impact on their business.
“These findings confirm that the dysfunction and incompetence of the Gillard government is having a major detrimental impact on the state of the economy,” Mr Robb said.
“When this is combined with Labor’s complete lack of understanding and empathy for business and its acute failure to consult, it makes for a very dangerous combination.
“At a time when our economy is already vulnerable to events in Europe we need strong leadership, rational decision making and to back our nation’s strengths. At the moment with the Gillard government the complete opposite is sadly the case,” Mr Robb said.