ECONOMIC OPPORTUNITIES
I believe smart and sustainable economic management is imperative to maintaining Australia's competitiveness and future-proofing our economy.
The decarbonisation of the global economy provides great opportunities for Australia. We have everything needed to be a renewable energy powerhouse – sun, wind, critical minerals and transferable skills and technology. We need more of the long-term thinking that led to the Perth-Kalgoorlie pipeline and the North West Shelf.
The major parties shy away from discussions about tax and debt. Our tax system is complex and requires reform so it is fit for purpose, looking ahead to the social and demographic changes of the next decade. This requires deep thinking about major issues including our national debt, housing affordability, and the impact of an aging population, and how we address these issues for our children’s generation.
MEASURING WHAT MATTERS - CURTIN SUBMISSION
Several countries have developed ways to measure progress and well-being. While methods vary, they tend to assess similar economic, social and environmental outcomes. Some countries are experimenting with more direct processes by linking progress indicators to priority and policy setting.
The OECD Framework for Measuring Well-being and Progress is well known and the inspiration for many countries’ approaches. The OECD is a good starting point for thinking about Australia, but it has limitations in data and coverage. For this reason, other countries have identified specific objectives, policy areas and indicators to supplement the OECD. Adding further detail will be important for Australia to reflect our unique conditions.
The Australian Treasury department called for submissions and in April 2023 a workshop with 80 residents of Curtin was run and based on that, this submission was made.
