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Economic benefits. Savings in the Australian economy associated with minimising human rights breaches, and maximising economic participation, are likely to flow to Australian businesses in their capacity as the providers of goods and services, as employers, and in their dealings with the federal Government.

Corporate social responsibility. ‘Opting in’ to a Charter of Rights regime would be a potent way for businesses to demonstrate their commitment to corporate social responsibility. A growing number of businesses in Australia and internationally are incorporating a human rights approach into their management practices. This makes economic sense, as research shows a direct correlation between a corporation’s commitment to respect human rights and its long-term sustainability and financial success. This is manifested in a number of ways, including increased employee productivity and better relations with customers and shareholders.

Improved regulatory framework. A Charter of Rights would improve Government decision making, enhancing due process and the level of transparency, responsiveness and accountability of government action. This would benefit business, because setting out a human rights framework for the operation of the public sector would provide a more stable regulatory environment. It would give added protection to individuals associated with a business in their dealings with the Government. For example, stronger protection of freedom of expression would benefit both journalists and media proprietors.

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