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Profit-bashing won't help Australians become better off, CEOs warn

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Politicians and regulators going after big business was one of the features of 2024. Has it gone too far, and if so, what can be done to restore the balance?
The article from the Australian Financial Review discusses the concerns of Australian CEOs regarding the political and public discourse around corporate profits. They argue that the current trend of "profit-bashing" by politicians and the media is counterproductive and could hinder economic growth. CEOs warn that vilifying profits discourages investment, innovation, and job creation, which are essential for improving living standards. They emphasize that profits are necessary for businesses to reinvest in their operations, pay taxes, and provide returns to shareholders, many of whom are everyday Australians through superannuation funds. The article highlights that while there is a push for companies to contribute more to society, demonizing profits might lead to reduced business confidence, lower economic activity, and ultimately, could make Australians worse off. The CEOs call for a more balanced conversation that recognizes the role of profits in a healthy economy.

Read the Full The Australian Financial Review Article at:
[ https://www.afr.com/chanticleer/profit-bashing-won-t-help-australians-become-better-off-ceos-warn-20241211-p5kxqx ]