On 27 March 2018, the Treasurer, Scott Morrison, has written to the Chair of the House of Representatives Standing Committee on Economics, Sarah Henderson MP, to request that the committee undertake an inquiry into the impediments to business investment in Australia.

This include inquiring the role that taxation policy, at both the Commonwealth and State government levels, can have on new business investment.

Terms of Reference of the inquiry, as announced by the Treasurer, are below:

I ask the Committee to inquire and report on:

– the interaction between regulatory frameworks across all levels of Government and how the cumulative regulatory burden can be reduced to support greater business investment;

– the impact of innovation policies, at the Commonwealth and State government levels, on business investment and the role of innovation policies in encouraging greater business investment, having regard to approaches taken in other countries;

– the role that taxation policy, at the Commonwealth and State government levels, can have on the encouragement of new business investment;

– the role that energy policies, at the Commonwealth and State government levels, can have on the encouragement of new business investment; and

– the impact of supplier payment times, including by governments, on business investment for small to medium enterprise.

The committee is accepting public submissions now. Submissions close on Friday. 11 May 2018.

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