Governance report shows more work needed

After launching their plan, ‘Governance of the Nation: A Blueprint for Growth’, in 2017, the Australian Institute of Company Directors has reviewed progress over the last 12 months.

The areas identified in the report (extracted below) were:

  • 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.

Across all areas, the conclusion reached in the 2018 report was that progress has been poor and the case for significant reform and taking a long-term policy view is even stronger.

The report can be read here.