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Ann: WBC 1Q22 Update release, page-42

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    Australia isn’t really an innovative country, aside from the lack of ‘innovative nature’ we don’t have great conditions for it.

    - high taxation for global standards, so why the hell would you HQ or setup your IP here? Crazy to, in a globalised world and transfer pricing
    - high labour costs. Our labour output is poor compared to $ paid. Thank unions for this too.
    - high red tape

    All of this contributes to Australia never ever making an apple. It simply won’t happen. You could argue CSL as innovative, however most of their great ideas were from overseas acquisitions. Our miners are world class, however that’s only because we were blessed with natural resources.


 
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