Shifting the Dial: 5 Year Productivity Review
This is the first document of its kind for the Productivity Commission — a look out across the landscape of factors and influences that may affect Australia’s economic performance over the medium term, in order to offer advice on where our priorities should lie if we are to enhance national welfare. This report was sent to Government on 3 August 2017, then tabled in Parliament and publicly released on 24 October 2017.
Australia 2030: Navigating Our Uncertain Future
The Australia 2030 report uses a scenarios-based approach to help business and government to plan today’s innovation investments to meet future opportunities and challenges.
Australia has enjoyed an enviable position over the last two decades, with demand for the nation’s abundant resources leading to strong economic growth and rising standards of living. However, we are entering a period of significant change across national and global markets. In light of this rapid pace of change, how will Australia maintain competitiveness in existing industries and build comparative advantage in new and emerging industries?
Australia’s Economic Future: An Agenda For Growth
CEDA’s major report for 2016, Australia’s economic future: an agenda for growth, presents a range of policy reforms that an incoming government of either persuasion could adopt. These reforms have been chosen to address the current economic and social challenges of Australia and are designed to kick-start a surge in improving economic conditions.
Understanding The Economy From The Ground Up
PwC’s research suggests that a new wave of economic growth can be unlocked through better understanding, and then exploiting, the vast diversity that existing at the local levels of our economy.
PwC have understood this diversity through unique, granular economic modelling of 2,214 locations which make up the Australian economy. Locations refer to the ABS defined Statistical Area 2 (SA2) boundaries which cover Australia. Each of these locations contains approximately 10,000 residents.
A number of key trends that have influenced growth over the past 14 years have been identified and tracked.
Understanding these trends presents major opportunities: allowing decision makers to appreciate likely return on investments and showing where there are growth opportunities to be realised on a location by location basis.
Fundamentals And Flexibility
Philip Lowe – Deputy Governor, RBA
Philip speech to the CFA Institute Australia Investment Conference paints a picture where Australia’s fundamentals are strong (our robust intuitional sydtensm, abundant natural resources, our people, and our ability to deliver high quality services) and they are providing us with the basis to be optimistic about the future. But as he points out, none of us has a crystal ball, so we can’t be sure exactly what that future holds. He argues that what we can be sure of is that we will be best placed to take advantage of our strong fundamentals if our economy is flexible and if it is able to adapt to the changing world in which we find ourselves. Hence the title of his remarks this morning: Fundamentals and Flexibility.
Bringing Benefits To All – How Sydney’s Financial Services Sector Leads The Australian Economy
The Committee For Sydney
This issues paper highlights the broader economic importance and benefits to the state and the nation of Sydney’s financial services. Greater Sydney is now responsible for contributing almost 23 per cent to Australia’s economic output. At front and centre of this performance has been Sydney’s financial services. Importantly, the impact of Sydney’s financial services isn’t just on other business services and technological innovation – it is also expressed in new buildings on the horizon and significant new and long needed infrastructure – roads, rail, homes.
Australia’s Future Workforce?
CEDA’s major research report for 2015, Australia’s future workforce? focuses on what jobs and skills we need to develop to ensure our economy continues to grow and diversify. Discussion around jobs often focuses on the here and now. However, if Australia is to maintain a robust economy that is internationally competitive, we must plan now for the changes, challenges and opportunities we face in developing the right jobs and skills for future generations.
In this report, CEDA examines:
- How the next wave of the industrial revolution will fundamentally reshape business activity;
- The high probability that 40 per cent of Australia’s workforce, more than five million people, could be replaced by automation within the next 10 to 20 years;
- Changes that will occur in the five key sectors identified in the Federal Government’s innovation plan;
- Jobs of the future and exporting and outsourcing opportunities;
- How businesses operating on the technological frontier are adapting;
- What digital disruption means to existing business practices; and
- What policy levers are available to maximise opportunities.
The Economic Merits Of Inclusionary Zoning For Affordable Housing
SGS Economics And Planning
SGS Economics & Planning has released an Occasional Paper analysing the economic merits of Inclusionary Zoning (IZ) for affordable housing.
IZ requires the incorporation of a certain proportion of permanently affordable housing in all development projects within an area.
If the developer cannot physically provide the affordable housing on site, they can make an equivalent cash payment instead so that the required number of units can be supplied elsewhere in the neighbourhood.
The Occasional Paper argues that IZ is not a tax on development. Like parking requirements, open space contributions, solar access standards and heritage controls, they may be warranted planning requirements to ensure successive development projects contribute to a sustainable city.
Managing Two Transitions
Philip Lowe – Deputy Governor Reserve Bank Of Australia
Philip Lowe – Deputy Governor Reserve Bank of Australia spoke at the Corporate Finance Forum on Managing Two Transitions in the Australian economy. The speech looks at two transitions – the transition faced by the Australian economy, following a period of significant growth in resources sector investment and strong commodity prices, and the global economy’s transition to a world of lower interest rates than we have become used to.
As Philip points out the most enduring solution to the two issues is an improvement in the underlying investment environment. This is a challenge not just in Australia, but in almost all advanced economies. Unfortunately, there is no magic lever here, but the good news is that Philip believes the task is not an impossible one!
RBA Financial Stability Report
The RBA’s Financial Stability Review is published semi-annually in March and September each year. The publication provides a guide as to the RBA’s assessment of conditions in the financial system and potential risks to financial stability.
Australia Benchmark Report
The Australia Benchmark Report provides rich data demonstrating why there is no better place than Australia to do business. The report examines five key reasons for investing in Australia – Growth, Innovation, Talent, Location and Business – and compares Australia’s credentials with other countries.