Ai Group releases 10-point plan for economic growth

The Australian Industry Group (Ai Group) has released a 10-point plan that it says will help lift Australia’s economic growth and resilience.

“Successful management of the situation facing our economy requires action across a number of fronts including repositioning the manufacturing sector for growth. This Ten Point Plan focuses on the key steps needed at a state and federal level to create the strong and diversified economy we need for the future,” said Ai Group Chief Executive Innes Willox.

Ai Group says a number of key policy issues need to be addressed to improve the health of manufacturing and that of the wider Australian economy. These key issues range across 10 national economic policy priority areas:

1. Consolidation of government budgets
2. Investing in infrastructure
3. Removing key workplace relations roadblocks
4. Boosting workforce skills
5. Building innovation and business capabilities
6. Lifting manufacturing performance
7. Successful transition for automotive manufacturing
8. Reducing regulatory burdens
9. Reforming energy markets
10. Reducing emissions and meeting the renewable energy target at least cost

“While considerable attention is rightly focused on the challenge of budgetary consolidation, the Australian economy also urgently requires rebalancing as it digests the effects of the ‘supercycle’ in mining investment and mining output growth. Put simply, investment, employment and production need to lift in other parts of our economy if we are to improve incomes and living standards across the community,” an Ai Group statement said.

To read more about the 10-point plan, click here.