B20 calls for structural reforms

G20 Antalya Summit 

Addressing the G20 heads of state and government in Antalya, Turkey yesterday on behalf of the global business community, IOE-BIAC spokesperson, Phil O’ Reilly called for structural reforms for dynamic and inclusive labour markets. 

Mr O’ Reilly underlined the “pressing need” for the G20 heads of state and government to adopt predictable and productivity-enhancing structural policies, both in product and labour markets, if they were serious about getting more people back to work.

He went on to elaborate by saying: “What we are really talking about are policies that promote open and competitive markets for investment and trade, access to finance, a predictable regulatory environment, flexible labour markets and measures to support innovation and entrepreneurship.”  There was, he said, an overriding need for business confidence to be strengthened in order for investment to flow.

With a focus on policies for job creation, Mr O’Reilly identified the key areas the G20 Leaders had to address to stimulate private sector employment. Measures included removing barriers to starting, operating and growing a business; creating easy-to-understand, employment-friendly labour law; promoting the variety of forms of employment to allow maximum opportunities for hiring; decreasing the burden of non-wage labour costs; creating an attractive regulatory framework for apprenticeship systems.

With regard to youth employment, Phil O’ Reilly referred to the recent IOE-BIAC-Deloitte survey of representative national employers’ organisations, where 80% of the respondents had affirmed that the current regulatory framework for establishing and operating a company was more unhelpful than supportive to employment creation.

As the world looks ahead to the G20 presidency transferring to China for 2016, there was a clear message from the B20 that the Leaders could not take a business as usual approach to employment policy: “A sense of urgency must now underpin the implementation of the previous commitments of G20 governments,” Phil O’ Reilly concluded.

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17 Nov, 2015

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