PATHWAYS TO GROWTH: THE REFORM IMPERATIVE2014 ECONOMIC AND SOCIAL OUTLOOK CONFERENCEThursday 3 and Friday 4 July 2014

1Last modified: 20 June 2014 6:04 PM

Program Day One - Thursday 3 July 2014

8.45 - 9.05AM SESSION 1: OPENING

Introduction Mr Paul Kelly, Editor-at-Large, The Australian

Speakers Professor Glyn Davis AC, Vice-Chancellor, The University of Melbourne

9.05 - 10.40AM SESSION 2: FACING THE HEADWINDS

Setting out the economic context from global, national and labour market perspectives. Why has the recovery from the 2008 crisis been so faltering and what are the implications of the unwinding of extraordinary monetary support from the Federal Reserve and other central banks? The surge in resource investment from 2006 to 2012 may have been located in remote parts of Australia but brought spill-over benefits to the entire nation, enabling it to achieve outstanding economic growth at a time of global stagnation. As resource investment winds down, to what extent will these gains be reversed? How are these tensions reshaping the labour force? Who is being left behind?

Chair Professor Judith Sloan, Professorial Fellow, Melbourne Institute, The University of Melbourne

SpeakersProfessor Warwick McKibbin, Chair in Public Policy, ANU Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Mr Chris Richardson, Director, Deloitte Access Economics

Professor Deborah Cobb-Clark, Ronald Henderson Professor and Director, Melbourne Institute

10.40 - 11.00AM MORNING TEA

11.00AM - 12.30PM SESSION 3: SUSTAINABLE BUDGETING: TAILORING WHAT WE WANT TO WHAT WE’LL PAY FOR

THIS SESSION IS SPONSORED BY THE ECONOMIC SOCIETY OF AUSTRALIA

Both commonwealth and state government spending has been allowed to grow beyond a level that is supported by the current tax base. What are the longer term implications, drawing upon Productivity Commission research, the findings of the new government’s audit commission and Labor’s critique of the govern-ment’s budget strategy?

Chair Professor Gary Banks AO, Dean, Australia and New Zealand School of Government

Speakers The Hon Chris Bowen MP, Shadow Treasurer

Professor John Daley, Chief Executive Officer, Grattan Institute

Dr Peter J. Boxall AO, Chairman, Independent Pricing and Regulatory Tribunal

12.30 - 2.00PM LUNCH: THE BUDGET CHALLENGE

Chair Mr David Uren, Economics Editor, The Australian

Speaker The Hon Joe Hockey MP, Treasurer

PATHWAYS TO GROWTH: THE REFORM IMPERATIVE2014 ECONOMIC AND SOCIAL OUTLOOK CONFERENCEThursday 3 and Friday 4 July 2014

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2.10 - 3.40PM SESSION 4: CONCURRENT

SESSION 4A: HOW TO GET EARLY CHILDHOOD EDUCATION RIGHT

SESSION 4B: CAN THE COMMONWEALTH DRIVE INFRASTRUCTURE?

SESSION 4C: TRADE AND INVESTMENT: HOW TO BUILD REGIONAL RELATIONSHIPS

It is recognised that the first few years of life are critical to future success in education and yet there is no coherent national, or even state, based approach to the provision of early childhood education, with a mixture of ad hoc private sector and council based pre-school services. What should be done and how should government support be focussed amid the various calls for child care support, preschool, and parental leave?

Prime Minister Tony Abbott wants to use his office to drive the development of Australia’s infrastructure. However infrastructure has traditionally been state government responsibility. The Commonwealth’s huge NBN investment sounds a warning to advocates of “think big” projects. What is required to fulfil the prime ministers’ ambition in this area?

Trade with Asia has soared over the past two decades, but bilateral investment remains low. How does Australia lift investment and trade with China and the region? What does Australia need to do to strengthen its regional relationships?

ChairMr Mark Burford, Executive Director, Mitchell Institute of Health and Education Policy

Mr Michael Woods, Deputy Chair, Productivity Commission

Professor Ross Garnaut AO, Professorial Research Fellow, Faculty of Business and Economics, The University of Melbourne

SpeakersThe Hon Sussan Ley MP, Assistant Minister for Education

The Hon Malcolm Turnbull MP, Minister for Communications

Senator the Hon Penny Wong, Shadow Minister for Trade and Investment

Ms Julia Davison, Chief Executive Officer, Goodstart Early Learning

Mr Paul Broad, Managing Director and Chief Executive Officer, Snowy Hydro Limited

Professor Kerry Brown, Executive Director, China Studies Centre, The University of Sydney

Professor Steve Zubrick, Winthrop Professor, Centre for Child Health Research, University of Western Australia

Professor Henry Ergas, Senior Economic Adviser, Deloitte Australia and Professor of Infrastructure Economics, SMART Infrastructure Facility, University of Wollongong

Mr Andrew Michelmore, Chief Executive Officer, MMG Limited

3.40 - 4.00PM AFTERNOON TEA

4.00 - 5.20PM SESSION 5: END OF THE AGE OF ENTITLEMENT

Payments to individuals account for about 40 per cent of all commonwealth outlays. The National Disability Insurance Scheme and new Paid Parental Leave illustrate the continuing pressure to expand entitlements to government support. How should limits be imposed and what is the dividing line between public support and private self-reliance. A debate between social services minister Kevin Andrews and shadow spokesperson, Jenny Macklin.

Moderator Ms Patricia Karvelas, Victorian Editor and Bureau Chief, The Australian

Speakers The Hon Kevin Andrews MP, Minister for Social Services

The Hon Jenny Macklin MP, Shadow Minister for Families and Payments and Disability Reform

7.00 FOR 7.30PM CONFERENCE DINNER: SEIZING THE OPPORTUNITY

Venue Olympic Room, Melbourne Cricket Ground

Chair Mr Paul Kelly, Editor-at-Large, The Australian

Keynote Speaker The Hon Tony Abbott MP, Prime Minister of Australia

PATHWAYS TO GROWTH: THE REFORM IMPERATIVE2014 ECONOMIC AND SOCIAL OUTLOOK CONFERENCEThursday 3 and Friday 4 July 2014

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Program Day Two - Friday 4 July 2014

8.30 - 10.00AM SESSION 6: CHANGING CLIMATE ON CLIMATE CHANGE

The abolition of Australia’s market-based carbon emissions scheme comes as a number of countries are relying more upon regulatory rather than market based measures to control emissions. However market based pricing continues to be explored in pilot schemes and at sub-national levels in China, the United States, Japan and Canada. Where is the debate heading, and what does it mean for Australia’s power industry?

Chair Mr Michael Woods, Deputy Chair, Productivity Commission

Speakers The Hon Greg Hunt MP, Minister for the Environment

Professor Ross Garnaut AO, Professorial Research Fellow, Faculty of Business and Economics, The University of Melbourne

Mr Matthew Warren, Chief Executive Officer, Energy Supply Association of Australia

10.20AM - 12.00PM SESSION 7: CONCURRENT

SESSION 7A: THE PRODUCTIVE WORKPLACE

SESSION 7B: PUTTING INCENTIVE BACK INTO FEDERALISM

SESSION 7C: WRONG TAX SYSTEM FOR THE DIGITAL AGE

The role of industrial relations in unlocking productivity improvement was recognised by all parties 25 years ago with the shift to enterprise bargaining, yet the last decade has seen constant upheaval in the regulation of workplace relations. What is the current wisdom on productivity in the workplace, and what have we learned from the experience of both the Workchoices and Fairwork regimes?

Australia’s federation is marked by overlapping responsibilities, different levels of government being in charge of raising taxes and budget spending, and a system designed to impose uniformity of outcome on very different state governments. How should relations between commonwealth and state governments be restructured to give all sides the greatest incentive to improve their efficiency and service delivery?

Company income provides about 20 per cent of all tax revenue and about 300 companies account for 80 per cent of that. However, in the digital age, companies have increasing choice over where they locate their income, and global authorities appear to be losing the battle against “base erosion” and profit shifting. High skilled individuals also have increasing discretion over where they earn their income. Increasing attention being given to expenditure taxes as a more secure form government revenue. What is the potential of this approach in the government’s forthcoming tax review?

ChairDr Matthew Butlin, Chair, Victorian Competition and Efficiency Commission

Dr Pradeep Philip, Secretary, Department of Health

Professor Kevin Davis, Professor of Finance, Department of Finance, The University of Melbourne

Speakers

Professor Peter Gahan, Professor of Management and Director, Centre for Workplace Leadership, The University of Melbourne

Professor Stephen Duckett, Director, Health Program, Grattan Institute

Mr Rob Heferen, Executive Director, Revenue Group, Department of the Treasury

Professor Judith Sloan, Honorary Professorial Fellow, Melbourne Institute, The University of Melbourne

Dr Vince FitzGerald, Director, ACIL Allen Consulting

Professor Chris Evans, Professor of Taxation, Atax, Australian School of Business, The University of New South Wales

Mr Tim Lyons, Assistant Secretary, Australian Council of Trade Unions

Mr Richard Bolt, Secretary, Department of Education and Early Childhood Development

Mr Alf Capito, Senior Tax Partner and Leader, Tax Policy Group in Asia Pacific, Ernst & Young

12.10 - 1.30PM LUNCH: THE LABOR ALTERNATIVE

Chair Professor Glyn Davis AC, Vice-Chancellor, The University of Melbourne

Speaker The Hon Bill Shorten MP, Leader of the Opposition

PATHWAYS TO GROWTH: THE REFORM IMPERATIVE2014 ECONOMIC AND SOCIAL OUTLOOK CONFERENCEThursday 3 and Friday 4 July 2014

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1.40 - 3.00PM SESSION 8: CONCURRENT

SESSION 8A: FINANCING THE FUTURESESSION 8B: BRINGING THE OUTSIDERS IN

SESSION 8C: SOURCES OF COMPARATIVE ADVANTAGE

The financial system stood up to the stresses of the global financial crisis with some government help, but that does not mean it is fit for the future. New risk ratings are turning banks into glorified building societies, with their asset books overwhelmingly consumed by home loans. Yet superannuation funds, with portfolios set to overtake the banks in size, are reluctant to move beyond equity markets and are increasingly turning overseas for diversification of their risk. What should be the priorities for the government’s review of the financial system?

Too many prime working age adults are marginalised from the workforce and dependent upon welfare. Australia’s prosperity would be enhanced if participation rates could be raised. Why has this proven so difficult among indigenous communities, in rural and remote Australia and other geographic pockets of poverty? What strategy directions hold the best prospects?

Resources and agriculture stand out as Australia’s two greatest areas of comparative advantage yet both face challenges. The resource sector has been exceptionally profitable over the past decade of supply shortages, however key resource markets are shifting to surplus, testing Australia’s real cost advantage given high labour and infrastructure costs. In agriculture, the growing efficiency of farm sectors in China and in nations such as Kazakhstan poses new threats to traditional markets. What are the policy implications of these threats?

ChairAssociate Professor Sam Wylie, Principal Fellow, Melbourne Business School

Mr Tony Nicholson, Executive Director, Brotherhood of St Laurence

Professor Paul Kofman, Dean, Faculty of Business and Economics, The University of Melbourne

SpeakersDr Luci Ellis, Head, Financial Stability, Reserve Bank of Australia

Mr Warren Mundine, Managing Director, NyanggaBlack and Chair, Prime Minister’s Indigenous Advisory Council

Dr Brian Fisher AO PSM, Managing Director, BAEconomics

Dr Carsten Murawski, Senior Lecturer, Department of Finance, The University of Melbourne

Mr Patrick McClure AO, Chairperson, Reference Group for Welfare Reform

Mr Mick Keogh, Executive Director, Australian Farm Institute

Mr Barry Sterland PSM, Group Executive, Macroeconomic Group (International), Department of the Treasury

Dr Cassandra Goldie, Chief Executive, Australian Council of Social Services

Mr Martin Ferguson AM, Group Executive of Natural Resources, Seven Group Holdings Limited

3.00 - 3.10PM SHORT BREAK

3.10 - 4.00PM SESSION 9: THE POLITICAL ECONOMY OF ACHIEVING REFORM

It is one thing to identify what needs to change in order to lift national and/or provincial prosperity, but another thing to implement change. What is the secret of successful reform, and what are the most common causes of failure.

Panellists Mr Paul Kelly, Editor-at-Large, The Australian

Senator Nick Xenophon, Independent Senator for South Australia

Mr Terry Moran AC, National President and National Fellow, Institute of Public Administration Australia

Mr Michael Woods, Deputy Chairman, Productivity Commission

4.00PM CLOSE