A coalition of 27 groups representing Australia’s small, medium and large businesses, universities and the investment community have joined forces to work on productivity solutions to improve living standards for all Australians. The groups reach across all parts of the economy and employ millions of Australians.
We welcome the opportunity to contribute to the Economic Reform Roundtable and commend the opportunity this process provides for lifting productivity, boosting living standards, and building long-term economic resilience. Productivity growth over the past decade was the weakest in six decades. It is clear that the economy isn’t working for Australians like it used to. We know that improving productivity is essential to attracting investment, lifting real wages, growing jobs, and ensuring more opportunity for all Australians.
Our economic rule book is out of date. If we don’t fix it, not only will Australians struggle to get ahead in life, but future generations are at risk of missing out on the quality of life we enjoy today.
The challenge is to make sure we’re working smarter and focusing on the things that really count.
We have jointly identified four reform priority areas that will deliver benefits for economic activity across the whole country: from the practical and important measures for immediate implementation, to more ambitious and needed long-term solutions like broad tax reform. Looking ahead, this group is also committed to working collaboratively towards important reform in areas that have additional potential to boost productivity and prosperity — including trade, skills, employment and industrial relations settings, and federal and state relations.
Reform priority areas include:
- Boosting investment and innovation
- Reducing red tape through better regulation
- Improving planning and major project approvals
- Kickstarting comprehensive tax reform
The attached joint policy document outlines further detail and consensus-backed proposals from our coalition – an important component to help enable reform.
Each organisation represented in this group may also raise other matters or provide submissions in their own name. Similarly, organisations will raise many more issues directly in the Roundtable.
Read our full submission here.
This joint submission is on behalf of:
Australian Institute of Company Directors
Australasian Convenience and Petroleum Marketers Association
Australian Airports Association
Australian Banking Association
Australian Chamber of Commerce and Industry
Australian Energy Council
Australian Energy Producers
Australian Industry Group
Australian Investment Council
Australian Retail Council
Australian Travel Industry Association
Business Council of Australia
Chartered Accountants Australia and New Zealand
Communications Alliance
CPA Australia
Corporate Tax Association
Council of Small Business Organisations
Energy Networks Australia
Group of Eight
Insurance Council of Australia
Master Builders Australia
Minerals Council of Australia
National Farmers’ Federation
Property Council of Australia
Tech Council of Australia
Tourism and Transport Forum
Universities Australia