The cost of living problems being borne by Australian consumers will worsen if the ongoing industrial dispute on the waterfront is left to continue without intervention.

Australia’s largest and most representative business network said the warning of severe economic repercussions issued by DP World, resulting from the ongoing industrial dispute with the Maritime Union of Australia, demonstrated the urgent need for government attention.

“Economic modelling from DP World indicates that the cost of the MUA’s industrial action is an astounding $84 million per week,” ACCI chief of policy and advocacy David Alexander said.

“This dispute is significantly affecting industries across the board, including industries as diverse as retailers and the meat export sector.

“The dispute is exacerbating the cost-of-living crisis.

“The longer the government waits, the more Australia’s economy will suffer.”