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[PRESS RELEASE] Australians to live in the most prosperous nation on earth. Do you feel that way?

Monday, 27 March 2017

Click here to download a copy of the Press Release

Just months away from pulling off the greatest economic performance in world history – many Australians feel they are not getting ahead: the new forgotten people.

Later this year Australia is poised to better the Netherlands previous record and clock up our 104th quarter of economic growth.

However, new research for the Shepherd Review, commissioned by the Menzies Research Centre, shows that Australians do not feel that they are benefitting from the nation’s macro-economic growth. The research has identified many reasons why hardworking Australians feel they are falling behind despite the nation’s 26 years of growth.

Subsequently, the Review Panel has proposed five areas currently posing a challenge to Australia’s future prosperity and impacting the lives of everyday Australians.

1. Economy and Budget

A sustainable economy and budget where taxes and incentives support people and businesses to invest and grow.

2. Accountable Government

Effective and accountable government which works for the people and gives a clear sense of control and accountability.

3. Trade and Opportunity

An economy that remains competitive and open to trade creating opportunities to grow throughout Australia.

4. Infrastructure and Energy

Infrastructure and affordable and secure energy to provide confidence and a better quality of life.

5. Innovation and Technology

As a high cost island country with a small domestic market being imaginative and flexible and quick to adapt to the opportunities and threats arising from changing market conditions and technological developments.

 

These five challenges need to be overcome for Australia to fulfill its promise of prosperity, opportunity and social justice. The Panel, drawing on Australia’s best minds, is seeking community input to help shape and implement solutions.

The Review process, led by Tony Shepherd AO, aims to kickstart a national conversation about the need for action to secure Australia’s future.  

If Australia deals effectively with each of these challenges it will lift opportunity creating more jobs, lifting real wages and securing affordable energy. Of course if we do not meet these challenges the opposite will occur declining job opportunities, low wage growth and unaffordable and unreliable energy.

“We have outlined the challenges as we see them and now we want to hear from as many Australians as possible their views on the possible solutions” said Shepherd.

“Change can only be achieved if the community understands the problems and accepts the solutions.”  

The Panel will be available for comment at today’s launch at KPMG Parramatta.

About the panel

The expert panel of seven members is chaired by Tony Shepherd AO and includes ANZ China Chairman the Hon Warwick Smith AM, CEO of the Council of Small Business Peter Strong, Buildcorp co-owner Josephine Sukkar, former NSW Parliamentarian and Hearing Australia Chair Dr Peta Seaton, founding partner of H2 Ventures Ben Heap and lawyer Geoffrey Winters a descendent of the Gamillaroi people.

The Review has been supported by MRC’s Executive Director Nick Cater and Andrew Bragg acting as the Review’s Head of Secretariat.

About the Menzies Research Centre

Founded in 1994, the Centre is a non-profit think tank that promotes freedom, enterprise and empowerment. The Centre’s objectives are to provide research and analysis, develop policy recommendations for government and encourage industry leaders and the wider community to contribute to public and policy debate.

Click the following link to read the Shepherd Review in full:

https://www.menziesrc.org/enterprise/item/the-shepherd-review-statement-of-national-challenges

Submissions are welcome at:

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For more information:

Sophie Hull, Menzies Research Centre

Phone: 0431 802 240

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27 March 2017 Sydney

Contact Information

(02) 6273 5608
From outside Australia: + 61 2 6273 5608
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RG Menzies House
Cnr Blackall & Macquarie Sts
Barton ACT 2600
Australia