Presented by Jones Partners
Jim Chalmers’ literary debut addressing the shortcomings of Australia’s current capitalist model sent shockwaves throughout financial communities, with some labeling it a political ploy to garner support, whilst others raged, dismissing it as socialist rhetoric.
However, many critics and enthusiasts alike fail to see the depth of the discussion Chalmers directs towards Australia’s struggling and jaded energy industry. The recent events of the Coronavirus pandemic and the war against Ukraine have resulted in severe supply shortages felt not just within Australia, but across the entire world. These events have exposed the extensive shortcomings, dependence and vulnerabilities of Australia’s economy to the whims of global events.
So, what solution is proposed by Chalmers? To summarise; increased collaboration between the private and public sector, tax reform to reward impact investing and penalise unsustainable business and greater investment in new technologies to reduce emissions.
Regardless of the idealism expressed in the Chalmers essay, it is solid authority to deduce that Labor is beginning to play with new policy directives and that Australian’s can soon expect a period of modernization and innovation within the energy industry.
We at Jones Partners understand that whilst periods of innovation can help create a sustainable future for some, it can also mean uncertainty, turbulence, and struggle for others. Businesses should stay ahead of the curve and speak to specialists about how to best protect their commercial interests throughout uncertain times.