The Australian does an annual survey of big company CEOs to feel the pulse of the economy, its business sector’s health and confidence, as well as to get a handle on the big issues that will make or break profits and ultimately share prices. And the big concern for 2023 is the Albanese Government’s industrial relations bill.

To put it in a nutshell, you’d have to say the overall sentiment can be expressed this way: “Not happy Albo, not happy.”

This comes at a time when the country loves the new and improved Anthony Albanese and his government. As the Canberra Times reported: “The latest Newspoll has delivered good news for federal Labor and Prime Minister Anthony Albanese. Labor's primary vote has lifted a point to 39 per cent while the Coalition remains unchanged on 35 per cent, according to the final Newspoll survey for the year.”

The Australian revealed that Albo also enjoyed a surge in support as preferred prime minister! So Aussies like the PM more than business leaders, though they do say they want to work with the new Labor Government. But the CEO survey of the captains of industry shows they are copping a few curve balls from Canberra of late.

Top of their complaints is the IR bill, with its multi-employer bargaining laws, which they say will hurt productivity and our international competitiveness.

CEO after CEO found problems with across the board wage rises that ignored a company’s productivity, and they vented their frustration at a policy that was not revealed before the election.

“Corporate leaders who have ­already publicly opposed the changes, including Qantas chief executive Alan Joyce and ­Wesfarmers managing director Rob Scott, have also doubled down on those criticisms. “Multi-employer bargaining is more likely to result in complexity and risk than benefits to productivity and wages,” Mr Scott said. (The Australian)

At this point, the Government is not listening to the CEOs and have been more flexible with independent senator David Pocock, who has wrestled small business concessions from Workplace Minister Tony Burke, but the big end of town has copped a snub. Pocock’s politicking means small businesses having fewer than 20 employees won’t be a part of the change. Those with 50 employees will also be given some more favorable wage rise options.

Interestingly, the Oz tells us that “despite Anthony Albanese’s plea to business that he does not want disagreement over the ­industrial relations bill to define the relationship between the government and the business community, the legislation and multi-employer bargaining are the themes that have most captured the country’s chief executives.”

Clearly, coal and gas CEOs could hardly be impressed with the possibility of caps being put on their prices and profits.

If Albo was a school student and brought home a report card like the ones the CEOs have produced, his parents would have to say: “Not happy Albo, not happy.”