National Reform Summit: Australian public need to be involved

27 August 2015

Yesterday in Sydney, more than 80 representatives of Australia’s business, political, community and academic organisations met at the National Reform Summit to discuss and achieve a consensus on a national agenda for economic and social reform in Australia.

With the aim of achieving a strong, inclusive economy and a fair society through lifting productivity and workforce participation, fiscal restraint and tax reform, the summit did not share the responsibility and ownership for the agenda with the Australian public.

“It’s not just governments and business which need the opportunity to invest in the long term prosperity of the nation, Australians need to given that opportunity too,” said BCCM chief executive, Melina Morrison.

“The shared intent is clear from yesterdays talks. What is not clear is how the reform agenda will get a mandate from the Australian public by involving them directly in creating social and economic benefit. The opportunity for collective action and ‘buy in’ for reform will be strengthened if Australians themselves are given the opportunity to influence the reform agenda.”

“Australians have a proven track record of investing their own capital in long-term and stable mutual enterprises to secure a sustainable social and economic infrastructure for themselves. That public contribution currently produces around 7 per cent of our GDP.”

The BCCM believes the objectives of lifting productivity and workforce participation, and designing fiscal policy for a growing economy, would be helped if these mutual principles are part of the reform agenda:

• Public services are designed and run for the public benefit not private profit;
• More Australian workplaces share ownership and therefore the risk and rewards of business with workers, and
• Consumer directed public services are designed by consumers and structured around their needs.

The benefits for productivity growth in businesses owned by employees is well known in Australia, supported by recent changes to the laws around employee share schemes, and in other jurisdictions including the UK where these businesses are currently the fastest growing company form.

“When you encourage people to directly contribute to the future of public services through mutual ownership, you get the accountability and transparency needed to ensure high quality consistent services, together with the economic efficiencies to address the burgeoning weaknesses in the public revenue base.”

“Citizens can play a role in reforming the system through their own collective action”, Ms Morrison concluded.

Read the BCCM statement.