The Grattan Institute has published a report into what it considers key reform areas for stimulating economic growth. The Game-changers: reform priorities for economic growth in Australia report found that governments must reform the tax mix and move to increase participation rates of women and the older generation.

 

“If Australian governments are serious about growth, they need to reform the tax mix and increase workforce participation for women and older Australians,’ Grattan Institute Chief Executive Officer John Daley said.

 

“Together those three things can grow GDP by $70 billion within the decade. Nothing else is big enough to change the game.”

 

In producing the report, the Institute analysed a range of policy areas to identify key reform areas that would produce the greatest returns over a ten year time frame.

 

“Some issues — like industrial relations reform, innovation and infrastructure investment — get a lot of attention. But our research shows that compared to the game-changers, the growth potential of reform in those areas is either unknown or surprisingly small,” Mr Daley said.

 

“Governments can’t do everything at once, and they shouldn’t try. When governments take on too many reforms at once, they tend to succeed with small reforms, but mishandle the big ones. Prioritisation is essential. Governments need to concentrate their effort on reforms that can make the biggest difference.”

 

The full report can be found here

http://grattan.edu.au/static/files/assets/3e1bdca4/Game_Changes_Revised.pdf