Business, Technology, Internet and network concept. Young businessman shows the word: Governance

Last year, the Australian Institute of Company Directors (AICD) set out a plan to sustain and boost Australia’s growth and prosperity with a clear case for national reform. One year on, they argue that the case for action is only stronger, saying that bold action is needed to address Australia’s poor productivity growth.

The AICD believes the recommendations put forward in the 2017 'Governance of the Nation: Blueprint for Growth', while not exhaustive, can deliver the marked growth and dividends Australia needs.

Rather than revisit those recommendations, the AICD is marking progress on these initiatives by with the ‘Governance of the Nation 2018 – A report card on progress’. Unfortunately, they state, the results can only be summarised as disappointing.

The recommendations covered a broad spectrum of policy objectives:

  • National governance: modernise systems of government to support longer-term policy decisions
  • Fiscal sustainability: address Australia’s unsustainable fiscal and return the Commonwealth Budget to surplus, with bold policy on both spending and tax reform
  • Innovation and entrepreneurialism: foster innovation-led growth supported by regulatory reform to support appropriate corporate risk-taking is also needed
  • Human capital: adapt workplace regulations, education and participation to new demands
  • Partnerships with the not-for-profit sector: alleviate the challenges faced by an uncertain funding landscape
  • National infrastructure: improve infrastructure as it is critical to lifting productivity and economic growth.

More information and report card download

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