The Business Council says the decision by the Federal Government to delay the approval of the critical North West Shelf gas project is another black mark on investment and business confidence at a time when Australia is struggling to be globally competitive.
BCA Chief Executive Bran Black said unexpectedly kicking a project assessment decision down the road when the assessment process has already been running for more than six years, is bad news for business investment and for meeting a critical gas shortfall in Western Australia.
"If six years to make a decision on whether to extend an existing project isn't enough, how long do we need?" Mr Black said.
"Business is crying out for certain and timely assessments of major projects, and so this unexpected delay will send shivers through the business community.
"This type of decision delay has real consequences for Australia's ability to compete for global capital, and the simple reality is that every dollar of investment we lose detracts from our capacity to grow our economy and deliver secure jobs."
Mr Black said Western Australia has a projected gas shortfall and investment like this is clearly needed.
"WA needs more gas and so we need to be approving projects like this, in a timely way, if we've got any hope of securing reliable and affordable gas for consumers and businesses in Western Australia.
"We need more certainty from the Federal Government, not less."
