New public holiday costly: business group

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Business groups say creating another public holiday could cost the Australian economy $3 billion after the prime minister suggested a special day to recognise indigenous Australians.

Australian Chamber of Commerce and Industry chief executive James Pearson said the potential cost in foregone economic activity of an extra day off work should be factored in.

“So consideration should be given to the possibility of replacing an existing public holiday so the total number of public holidays remains the same,” he told Fairfax Media.

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