In his National Press Club address yesterday, the Prime Minister set out his vision for a new generation of economic success for Australia. It’s one that takes us from JobSeekers and JobKeepers and on to JobMakers in the post pandemic period.
Australia is already taking strides through the National Cabinet’s three-step framework to the re-opening of business and the economy, although recovery still has a long way to run.
The PM has signaled industrial relations and skills and training as two priority areas for action. This is welcome and important, but there also remains a longer list of potentially game-changing policy actions and reform options which must be tackled if we are to get the Australian economy really going again.
Many of these are set out in our Seven Point Plan for Economic Recovery which was released last week. They include stimulus measures to boost residential construction, something which is attracting support from across the housing and construction industries.
Judging by the strong public reaction to our proposal for a New Home Boost, there is a real appetite among new home builders and buyers for incentives to get construction going.
Our financial system has also played a critical role in helping Australians deal with the economic impact of COVID-19, whether for their household mortgage or their business.
We’re interested to know more about your experience of dealing with banks and lenders during this period, and are conducting a short survey to inform our advocacy which is available here.