Businesses should reassess their relationships with government during these challenging times, Suncorp CFO Steve Johnston says.

In a speech to the Trans-Tasman Business Circle Lunch in Sydney, Mr Johnston said what government and business “must do is align our interests, support better outcomes for our customers and our communities, and have the courage to stand up for what we believe”.

He says both sides face disruption.

Just as businesses are being disrupted by “agile and nimble start-ups”, politics has been transformed by the 24-hour social media news cycle, and good public policy is being sacrificed for short-term vision “driven by populism like never before”.

“With so much in common, government and business must recognise the threats that jointly confront us and agree to work together to build an accord that is in the national interest,” Mr Johnston said.

“I feel very strongly that the time has come for a new form of engagement between business and the Parliament – an engagement absent of acrimony and point-scoring.”

He highlights five ways businesses can take action.

“First, we need to do a better job of serving our customers, who are also voters, and delivering value for them, not extracting value from them.

“Secondly, we must recognise that some of the disenfranchisement, which in turn feeds populist politics, is created by business itself.

“We must better explain ourselves and our actions.”

Third, he says, businesses must look to the bigger picture and, fourth, avoid using political uncertainty as an excuse for delayed investment.

Finally, there needs to be greater transfer of skills between the public and private sectors.

“Australia finds itself once again dealing with a fractured and divided Federal Parliament,” Mr Johnston said.

“There is no point complaining about that. The people have spoken.”