Strengthening the Budget and the Economy
We work closely with other Government organisations on tax reform, improved employment outcomes, and economic development policies.
Efficient taxation and financial sector arrangements
Tax reform is at the centre of the Government’s efforts to make Australia a more innovative, productive and prosperous economy.
We are working closely with the Treasury and other agencies to help develop and implement the Government’s tax reform agenda, to encourage investment, economic growth and improved living standards.
We are supporting the implementation of the Government’s response to the Financial Systems Inquiry released on 20 October 2015, to help deliver a financial sector that is resilient, efficient and fair.
The G20 is the premier forum for international economic cooperation and decision-making, bringing together 20 of the world’s largest economies. We provide advice and support to the Prime Minister, the Sherpa and other relevant Ministers to facilitate Australia’s international engagement in the G20.
Germany is the current president of the G20 and will host the 2017 G20 leaders’ meeting. You can follow the conversation with Australia’s G20 Sherpa Dr David Gruen on Twitter @G20Australia.
Details of the 2017 meeting are available on the G20 website.
Improved employment outcomes
We work closely with the Department of Employment to develop and implement policies and programmes to help Australians find and keep employment in safe, fair and productive workplaces.
We are working with the Department of Employment, the Treasury, and other agencies to ensure the timely implementation of the Government’s Growing Jobs and Small Business Package, announced in the 2015-16 Budget. The package is aimed at creating the right conditions for Australia’s small business to grow and create new jobs, and to assist Australia’s unemployed to access those jobs.
We are supporting the Government’s consideration of the findings of the Royal Commission into Trade Union and Governance (tabled on 30 December 2015), and the Productivity Commission’s review of workplace relations which was publicly released on 21 December 2015.
Regional economic development
Australia’s regions provide much of the nation’s economic prosperity and are areas of great opportunity.
We are working with the Department of Infrastructure and Regional Development on creating a new regional development policy to set out a long term plan for regional Australia.
Supporting investment and economic growth in northern Australia is a key focus. We support the Prime Minister as Chair of the Northern Australia Strategic Partnership, and are working with the Office of Northern Australia on implementing the first ever White Paper on Developing Northern Australia which includes the $5 billion Northern Australia Infrastructure Facility.
The Prime Minister also co-chairs the Joint Commonwealth and Tasmanian Economic Council. The Council brings together the Commonwealth and Tasmanian governments with some of Tasmania’s most prominent business people to consider reforms to boost Tasmania’s growth.
Sound fiscal and economic policy
We work closely with Treasury, the Department of Finance and Cabinet Division to coordinate and manage the Commonwealth budget process. This involves providing advice to the Prime Minister on the budget outlook, fiscal strategy and its implementation.
We assist the Government formulate and deliver the annual Budget, by providing advice to the Prime Minister, the Cabinet and its committees on the merits and relative priority of proposals under consideration.
We provide advice to the Prime Minister about the economic outlook, current conditions, and key developments within Australia and the broader international community.