Productivity Commission Study on the Transition of Regional Economies Following the Resources Boom
Prime Minister Malcolm Turnbull, Member for Wentworth, is encouraging the public to participate in the Productivity Commission inquiry as part of the Government’s commitment to address the impacts of the transitioning economy on local communities. This is an opportunity to promote policy solutions that support economic growth and jobs for hard-working Australians.
The Government has directed the Productivity Commission to investigate the impact of the economic transition following the resources boom on regional economies, and provide evidence for the best policy responses to deliver strong economic growth that is shared across the country, including in the electorate of Wentworth.
The Turnbull Government wants to ensure that hard-working Australians are not being left behind.
“The Turnbull Government has a clear economic plan to support this transition, to fuel economic growth and deliver our children and grandchildren the jobs they deserve, but we need to better understand and respond to the local drivers and causes of economic change,” Mr Turnbull said.
“Through this process the Productivity Commission study will help determine how well different regions are adapting to the transition, the factors which influence their capacity to adapt to changes in economic circumstances, and to identify those regions most at risk of failing to adjust.”
The Commission is due to provide an initial report to the Government in April 2017 and a final report within 12 months. Public consultation will be undertaken as part of the study and the Government encourages all interested parties to participate. Further information and the terms of reference are available on the Commission's website.