Govt should fix growing problems: CCIWA

The state's leading business lobby organisation said problems such as severe labour shortages, a lack of affordable housing, and infrastructure bottlenecks will hamper the state from realising its full economic potential.

Following Reserve Bank governor, Glenn Stevens' prediction that the resource rich states of Western Australia and Queensland will power the nation for many years to come, the Chamber of Commerce and Industry of Western Australia is concerned that all levels of government need to tackle, without delay, the challenges that come with a growing economy.

CCIWA chief executive, James Pearson said action is needed by state and federal governments to ensure the local economy is ready for the opportunities headed its way.

"We need better infrastructure to encourage new investment to the State, and make our communities better places to live and work," Mr Pearson said in a statement.

"We need to develop a human capital strategy to ensure the State can attract and retain the hundreds of thousands of extra workers local business will need in the years ahead.

"We need a more competitive tax system and the removal of unnecessary layers of regulation and red tape, to make it easier to do business."

Full announcement below:

Western Australia's economic powerhouse status comes with its challenges

Statement by CCI Chief Executive James Pearson

Reserve Bank Governor Glenn Stevens' prediction that the resource rich states of Western Australia and Queensland will power the nation for many years to come once again highlights the need for all levels of government to tackle, without delay, the challenges that come with a growing economy.

It is timely that an influential national decision maker has publicly recognised Western Australia's importance to the rest of the country.

It is the case, now more than ever, that what's good for WA, is good for the Nation.

With an increasing number of local businesses planning for the next wave of growth despite a tough year as a result of the global economic slowdown, the challenges that come with a growing economy are back on the agenda.

The State's peak organisation representing local business, the Chamber of Commerce and Industry of Western Australia, is concerned that problems such as severe labour shortages, a lack of affordable housing, and infrastructure bottlenecks will hamper the State from realising its full economic potential.

Action is needed by State and Federal Governments to ensure the local economy is ready for the opportunities headed its way.

We need better infrastructure to encourage new investment to the State, and make our communities better places to live and work.

We need to develop a human capital strategy to ensure the State can attract and retain the hundreds of thousands of extra workers local business will need in the years ahead.

We need a more competitive tax system and the removal of unnecessary layers of regulation and red tape, to make it easier to do business.

CCI looks forward to working with political leaders and key decision makers from across the country to develop sound and sensible policies that will encourage economic growth, attract new investment, and create jobs for all.