THE federal government has tasked the Productivity Commission with undertaking five 12-month inquiries into Australia’s productivity performance and providing recommendations on productivity-enhancing reform.
Treasurer Scott Morrison said the inquiries were about identifying and supporting future opportunities to drive growth.
“That is why the Turnbull government has released the terms of reference for the first in a series of five-yearly reviews into Australia’s productivity performance,” Mr Morrison said.
“The inquiry will identify opportunities to enhance Australia’s performance giving consideration to the implementation of recent reforms.
“We need to make sure that our policy settings can support productivity growth by ensuring that the economy is flexible and is able to adapt in the face of current and future economic challenges and opportunities.”
In what Mr Morrison described as ‘a new frontier in advice for the Productivity Commission’, the inquiry will complement its usual approach of inquiring into a single sector or area of government policy by allowing it to identify priority reform areas across all sector of the economy.
“This new process will complement the Intergeneration Report (IGR) initiative introduced by Treasurer Costello by providing a regular and accountable process that puts forward policy answers to the questions that are posed forward by the IGR,” he said.
The commission is yet to release detail of the range of issues on which the commission will seek information and feedback. AMMA will keep members informed of opportunities to provide input.
The commission will report to government in September 2017.
Click here for more information including the terms of reference