Confidence in new government a great start: Mark Bouris

The election is finally out of the way and the government has a big agenda ahead of it. Right out of the gates it has announced a tax review, a financial services review, a competition review, and a review of government spending.

Importantly, the government has said that it will consult with and wants to hear from the people of Australia. This is a smart move - the expectation of a Coalition victory last week was cause in itself for improvements in confidence, and when confidence is lifted, so is spending and other factors that bolster economic activity.

So this new government brings the promise of change, but how, when, and where will they start?  I wonder which changes the general public would put through. I’m talking about the plumber in Parramatta working 12 hours a day six days a week, or the retired couple in Frankston who has seen their superannuation wither away. What would these people urge on the new government if they had the access and influence? What would you say to our new Treasurer, Joe Hockey, if you could spend the next month as his adviser?

Firstly, I wouldn’t assume Joe wouldn’t listen: he grew up in a family of small business owners and understands the plights of the average Australian well. This understanding is already evident in the Coalition’s commitment to reducing company tax rate by 1.5% and cutting regulatory burden on business.

So where would you start if you had the opportunity to speak up about the issues that matter to you?

I did a quick survey on Twitter and found that taxes were indeed at the forefront of most people’s minds. Simply put, most people think there’s too many of them and that they’re too high.

But which ones would you reduce, which would you scrap and which part of the system would you reform?

Most people understand that the political stability and regulatory structure we operate doesn’t come free. That means the tax system has to raise requisite amounts of cash before it concerns itself with fairness or efficiency. It’s a balancing act.

It’s the same with red tape. We all want an easier way of operating our businesses and creating the best possible opportunities for our families, but what red tape do we advise Joe Hockey to cut? What regulation actually makes sense and where are we tied up in unnecessary bureaucracy? When you start cutting the red tape, where do you stop?

Competition is another agenda item that affects us all. Market dominance by large conglomerates can hurt smaller businesses, which generally means that prices rise and choice reduces. This affects both business owners and consumers in industries from banking to manufacturing to supermarkets. So how we can bolster competition to create a more even playing field?

As we move past all negativity and criticism that comes with campaigning and into the command of a new government with fresh policies, now is a good time to speak up.  I worked with the Treasurer when he was Minister for Financial Services and I can tell you that this guy is not only smart and experienced, he listens.

This is probably the time to speak up. I’d love to hear your ideas.

You can contact Mark on Twitter.