Gee. I wonder why business is dying in Australia.

Gee. I wonder why.

According to reporting in the Australian:

Our innovators may be world-leaders but too often they are lured overseas, resulting in an economic loss to the nation, according to Industry and Science Minister Ed Husic.

Mr Husic says Australia is a global leader when it comes to know-how, consistently ranking among the top 10 in research across a range of disciplines, from medical research to robotics and quantum technologies.

“Yet when it comes to converting our research firepower into fresh business opportunities and thriving new industries, there is room for improvement,” he said.

Could it be that:

• Australia has inordinantly high personal income taxes necessary to finance and inordinantly inefficient government.

• Australia has excessive and oppressive regulations designed and overseen by an battalion of busy body bureaucratic regulators.

• Commercial success is not celebrated but instead decried with calls for payment of fair share of tax, greedflation idiocy, and a culture of approval seeking embedded in law.

• And don’t forget industrial relations regulation and energy policy designed to increase costs and reduce productivity.

These are not conditions hospitable for new business establishment.

It should not surprise Husic that innovators are leaving. It should surprise Husic that anyone of them are staying.

So further says Husic:

And we’ve seen Australian know-how lured offshore, taking economic opportunities with it. Bucking that trend is of central importance to the government.

They are lured because it is next to impossible to succeed commercially any longer in this country.