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Australian Unity GMD Rohan Mead on the BCA’s prosperity plan

Thought Plus
01 Aug 2013

Australia’s future economic prosperity is of vital interest to all of us. Charting the path to that prosperity, and ensuring all citizens are included, is a complex challenge. It will only be achieved with the cooperation of all sectors of society and the economy. 

We at Australian Unity are pleased to support the new economic action plan released by the Business Council of Australia on July 31. The BCA, of which Australian Unity is a member, has put forward a series of recommendations to set the national economy on a new path it believes will, within 10 years, ensure enduring prosperity for all Australians. 

It urges governments, business big and small, non-government organisations and individuals to become involved in thinking about the nation’s future. 

The plan recognises the many challenges Australia faces. It provides a frank assessment of our shortcomings, where “we’ve taken our eye off the ball … and let complacency creep in.’’ Examples include the failure to adequately invest in infrastructure, overuse of regulation which stifles productivity and innovation, inflexible workplace relations, conflict between the states and the commonwealth and the failure of our education and training system to produce the skills needed in a modern economy. 

It offers a blueprint for change in areas such as population policy, financial reform, innovation and international competitiveness. 

Overall, Australian Unity believes that the BCA’s prosperity plan is an enormously valuable contribution to the policy debate on how the nation should see its future. It is, of course, only a starting point for a vital national discussion, one in which we should all be looking to have a say. 

Access the Business Council of Australia's Action Plan for Ensuring Prosperity report.