Major economic reform has never been easy, but it sure seems hard work these days.
In an attempt to break this seeming impasse, around 90 of our nation’s peak business and community groups will meet in Sydney today to thrash out a way forward.
Making sure Australia’s economy is set up to succeed and to create jobs means making some big changes. And while these groups all bring different priorities and perspectives, the National Reform Summit is an attempt to lay a platform for some of these changes.
The imperative for action is so strong it’s brought together two of the biggest competitors in our media landscape – the Australian and the Australian Financial Review – to jointly host the Summit.
As the nation’s largest contributor to GDP and second largest direct employer, the economy needs the property industry to do well. I’ll be using our seat at the table to advocate for the reforms that will unlock further growth and the economy-wide benefits – both social and economic – that flow from it. Tax reform is at the top of the list.
This means there will need to be an unashamed focus on initiatives which deliver economic growth because budget deficits are our new reality.
Creating more productive cities as our population grows, addressing entrenched housing affordability challenges and reweighting the tax system to boost growth are all vital objectives our industry is central to.
With the right reforms, we can help deliver the economic gains the nation is looking for – and that’s an offer I look forward to laying on the table today.