Guests at SACOME’s second lunch event for 2013 were treated to an enthralling and entertaining presentation from Business SA’s Chief Executive Officer, Nigel McBride. Mr McBride’s presentation, entitled ‘South Australia at a cross road’, provided a frank and realistic discussion on the current economic situation for the State, saying there was no “magic bullet” to fix the situation.
"We are at the point in the State's history where we've got to take a response and demand action,” he told the 200-strong crowd at the Adelaide Convention Centre. Mr McBride joked that his presentation would sound negative, but said “hang in there, there is some good news – it’s in the last 5 minutes of my presentation”, before listing agribusiness, mining, and oil & gas as key to the State’s future.
He also encouraged collaboration and aggregation as essential in addressing the current climate, and urged South Australians to “change our thinking” to create a better future. Mr McBride called for the State Government to intervene in the economy by building or facilitating key infrastructure and cutting payroll tax in half to encourage employment. He used Singapore as an example, where the government provided proactive support in an extremely difficult environment.
Speaking at the lunch, Mr McBride said the state "desperately needs wholesale tax reform", and reminded guests that State debt, deficit, high tax and cost environment cannot be ignored. "If there's one bold message they (the State Government) can send to the business community, one single bold message, one single thing...cut payroll tax in half...And by the way if you can't find, out of the $6.9 billion we spend on the public service, space for $600 million, I'm sorry but you're not looking hard enough."
Mr McBride finished his presentation by reiterating the importance of social media, and encouraging more priority placed on retaining youth in South Australia.
View Nigel's presentation here
SACOME thanks the 2013 Annual Sponsors for their support of this event together with event sponsor Ashurst.