A snap summit to secure Australia’s future: What for? 210



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Malcolm Turnbull has whisked Australia’s most important economic, social and corporate leaders off to a snap summit today in Canberra that was only convened earlier this week. In his third week in power it shows he is taking the lacklustre economy very seriously.

According to the media reports, he has invited leaders from business, unions, community organisations and think tanks to discuss the state of the economy and the best way forward for “long-overdue economic reforms”.

It’s the second summit in recent months, and is said to be showing Turnbull’s leadership on big thinking agendas.  But what will it look to address? Some of his comments this week tell a very clear story.

“Australia is a prosperous country with high wages, a high standard of living and a generous social welfare safety net. To secure and enhance our prosperity we must be more productive, competitive and innovative,” he said.

“Our government is focused on the opportunities arising from technological disruption and in creating an environment for strong, innovative industries to grow.  I want to build on the key priorities of the summit and work towards a practical set of reforms that will help to create jobs, drive innovation and stimulate growth.”

Treasurer Scott Morrison said on Tuesday anything that helped Australians “work, save and invest” was on the table.

It is expected that five big issues will be on the agenda today:

  • Shifting the GST from 10-15% and the potential for dropping personal taxation rates
  • Reform of Superannuation legislation that is said to “disproportionately benefit high income retirees, with the top 10 per cent of income earners receiving 32 per cent of the value of super tax concessions and the bottom 60 per cent receiving just 27 per cent”.  The agenda could include
  • Youth unemployment: and incentivisation of employers to hire more of the younger generation’s unemployed.
  • Company tax rates: It is unclear whether the government will support calls for a cut to company tax rates
  • Innovation: The stimulation of high growth industries like technology and renewable energy, supporting changes to workplace legislation that makes businesses more flexible for innovation style activities.

Do you think these are the most important things on the Australian economic agenda? Are you disappointed that pensions, cost of living, healthcare and support for older generations does not appear to be high on the priorities right now?


Rebecca Wilson

Rebecca Wilson is the founder and publisher of Starts at Sixty. The daughter of two baby boomers, she has built the online community for over 60s by listening carefully to the issues and seeking out answers, insights and information for over 60s throughout Australia. Rebecca is an experienced marketer, a trained journalist and has a degree in politics. A mother of 3, she passionately facilitates and leads our over 60s community, bringing the community opinions, needs and interests to the fore and making Starts at Sixty a fun place to be.

  1. Here we go again and the next thing on the agenda will be to rubbish older Australians to get support for their plans to penalize us

    9 REPLY
    • well said, that is exactly what is coming , they did it the last time and called us leaners

    • You just know this government will target pensioners don’t you. It seems it’s always the way. Bitching about paying us $400 a week when they claim more than that a night in TA

    • Got a pretty good idea Anneli, it’s on the agenda and it’s a fair bet they’re not going to double the pension

    • You are right Ian Gaffel but it not stop them calling pensioners learners the first time around and it won’t stop them again

    • Leanna, we weren’t leaners when we were tax payers, Quisling Turnbull is a parasite, he has only ever played with other people’s money.

  2. Just another feel good summit, to try and appease the electorate. Waste of time and money. Small business wasn’t even invited to attend!

  3. Great idea. K Rudd 2008 wasn’t it. Oh you mean this one by the very same people who rubbished and ridiculed the last one. Still a good idea should happen every three years

  4. No it shouldn’t. Just our bills goes up mine along I spend my monthly pension for bills. My electricity along was $7oo next year or even now I’m afraid to use heater. I can’t afford it. I just stay longer in the bed. ThenStay outside under the sun. Light, phone and others they just charge as. And our government tax us more be kind to our people. Then they spend it for their luxury.

  5. Hands up anyone who actually thinks Australia has a future? It will be run by China and Muslims soon (going to be interesting to see when they butt heads over who owns the place) courtesy of our “government” and those busy apologising for our offensive country.

    2 REPLY
    • Exactly my thoughts and it will be sooner than you think with more Refugees living on our benefits and stealing jobs from us
      We are doomed we will either convert or have our throats slit By the way I refuse to wear a Burka !!!!!

  6. Good idea. What is he going to do about the ageing population and the excessive bond costs to enter a Nursing Home.

    2 REPLY
    • The only ones making money are the Nursing home owners. My mother is in one as she has dementia but did not own any property and the government covers her care. She gets to keep around $50 a fortnight but she is beyond knowing how to spend it. When I see some of the fees if you own property I think it is just a money grab and obscene actually.

  7. Malcom Turnbull, it a shame, I am fast beginning to dislike seeing your face, like Abbott’s, Hockey and Morrison’s face it seems to herald bad news for us

    12 REPLY

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