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With the cooling resources boom, the falling Australian dollar, the new government and rebounding business confidence -- what better time for Australian businesses to start thinking about where future prosperity will come from.
In Deloitte's preview release of Building the Lucky Country, Positioning for Prosperity? we focus on where Australia will find its next waves of economic growth. Plus, we take a deep dive into our current wave, mining and the five new fronts; agribusiness, gas, international education, tourism and wealth management.
Ensuring that Australia realises the full potential of gas will revolve around our ability to intervene to improve productivity, enhance infrastructure and make our regulatory environment more attractive to investors and operators. Australia should start by controlling what it can, which primarily means taxes and regulations. With that in mind, some issues to consider are:
Is there room to streamline visa requirements for gas sector workers?
Could we review regulatory and approval frameworks to reduce unnecessary duplication and obstacles?
Can we set firm policies on taxation, climate change and carbon trading?
Could the development of unconventional gas sources be better supported, and can this new industry do more to reassure concerned communities and authorities?
Is there scope to lower costs through greater collaboration, better sharing of infrastructure including pipelines and ports, and improved planning across all areas of the resources value chain?
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