Industry-Innovation-and-Competitiveness-Agenda

Many of the drivers of competitiveness are being examined through a range of reviews including
the Competition Policy Review and Financial System Inquiry. Over the next year, these two
reviews will deliver the road maps for the Government to:
• increase domestic and international competition to encourage greater quality and lower
prices for the goods and services businesses and consumers depend on; and
• foster an efficient, competitive and flexible financial system, consistent with stability,
prudence and public confidence.
The Government has also commissioned White Papers on Energy, Agricultural Competitiveness
and Developing Northern Australia. These White Papers will set out practical steps to boost
growth and prosperity.
On the big issues for competition policy, workplace relations and taxation, the Government
has committed to major reviews. To this end, the Productivity Commission will be asked to
undertake a comprehensive review of the operation and impact of Australia’s workplace relations
framework. The White Paper on the Reform of Australia’s Tax System, together with the White
Paper on Reform of the Federation, will enable an open discussion about the future of Australia’s
tax system, with a focus on simplifying the tax system, boosting productivity and international
competitiveness, and improving incentives to work and save.
Implementing the Competitiveness Agenda
The Competitiveness Agenda focuses on what we can do now to improve competitiveness and
start creating the jobs of the future in the industries of the future. These measures build on the
Government’s efforts to date by:
• reducing business costs;
• creating a more skilled labour force;
• building economic infrastructure to drive productivity; and
• fostering innovation and entrepreneurship in our industries.
The Government will hold a series of stakeholder roundtables on the Competitiveness Agenda,
around the country, over the coming months. Each roundtable will focus on one of these four
ambitions.
Industry Innovation and Competitiveness Agenda
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In addition to these broader consultations, the Government will undertake more targeted
consultations on many of the specific proposals. Some of the Agenda’s initiatives have already
undergone extensive consultation and development and will only require fine-tuning as they
are implemented; others will require significant further consultation. Indicative consultation
pathways and timeframes for the proposals are outlined in Table 3.
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IMPLEMENTING OUR ECONOMIC ACTION STRATEGY
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