The Business Council of Australia board has given its backing to Tim Reed to become its new president. Reed is the former CEO of MYOB and has served on the BCA board since 2017.
The term of the current president, Grant King, ends in November. King said: “[Reed] is well placed to take on the role of president with a firsthand insight into the competitive pressures that face Australian businesses and the supply chain relationships that help keep businesses and communities strong.”
The board will put its recommendation to BCA members at the council’s AGM on 20 November.
Reed said he was delighted to be recommended for the position. “Businesses are the job creators who employ eleven million of almost thirteen million working Australians. Business creates jobs, exports, innovates, pays taxes and creates vibrant communities.”
“My focus is firmly on the things we know are critical to ensuring enduring prosperity for all members of our community, which will require Australia to be a globally competitive place to do business.
Speaking on the ABC's AM program (18 October), Reed said a lower corporate tax rate would eventually be necessary for Australia's global competitiveness.
“If you look at 28 years of uninterrupted economic growth, for the majority of that time Australian company tax rates were just below the average of the OECD. We’ve now moved from below the average to above the average,” Reed said on the program.
In a statement released by the BCA, Reed said competitiveness started with skills. “We must ensure Australians have the skills they need to thrive in the decades ahead.
“To attract much needed investment, we need to do everything we can to ensure Australia’s tax and regulatory framework is globally competitive.”
“On energy and reducing emissions we must meet our obligations under the Paris Agreement while delivering reliable, low-cost energy.
“As someone who grew up around a family business, I’m committed to seeing small businesses thrive. All my life I’ve been passionate about small enterprise and I understand that small and big businesses need each other to create jobs and grow.”
Reed is passionate about the role of business and community. He told the ABC: “I was very active in talking about the same-sex marriage debate because it was important to our business. I wanted people to turn up and know that they were accepted for who they are, and I think it is difficult to do that in a place where the laws treat people differently.”
“I will be a passionate advocate for the positive role that business plays in our community.
“As a community we must do business the way it should be done, not simply to the standard it could be done. Equally business has a right to be proud of the many positive ways in which they contribute to our society every day.
“We know that Australians value the role of business and business has a legitimate voice in the community. It’s my intention to ensure our contribution is understood.
“If I do have the privilege of becoming the next president of the Business Council, I will continue to prioritise the important work done in recent years to ensure big and small business work and win together.
“The Business Council’s goal is to help build a more dynamic and competitive economy that gives Australians the new jobs and higher wages they deserve, I’m looking forward to helping deliver on that promise in a new role.”
