Report

Game-changers: economic reform priorities for Australia

10 Jul 2012
Description

This publication accompanies the main report, Game-changers: Economic reform priorities for Australia.

The Supporting Analysis of this publication comprises two sections:
Section 1: Analysis of economic reform priorities for Australia (Pages 5 – 55)
Detailed material on each of the 25 issues considered in the main report, providing analysis that supports the placement of each issue on the matrix in Chapter 2 – Economic Reform Priorities for Australia of that report, also reproduced on the next page.
First, we outline the economic opportunity of each reform, then assess it against two criteria:
1. The size of the opportunity presented — measured in terms of its economic impact, expressed as the additional Gross Domestic
Product in the year 2022, expressed in 2010 real dollars. These are estimates only, arrived at by methods that do not substitute for detailed economic modeling. However, they are likely to give fair estimates of the likely magnitude of the economic and noneconomic returns, which provides a good basis for ranking potential reforms.
2. The level of confidence that identified policy remedies can achieve change. Confidence will only be high if concrete policy changes have been identified, there is good evidence they will be effective, and reasonable evidence of the size of the economic benefit. In making this qualitative assessment, we have used five categories:
• considerable expert consensus on detailed solutions
• considerable expert consensus on the direction of reform, but detailed solutions are not proven
• considerable expert consensus on the direction of reform, but solutions are poorly characterised
• little consensus on the direction of reform, or whether there are any gains to be made from reform
• Inadequate evidence base to define problem or determine direction of reform.
For each issue, we have also considered what we don’t know that might well change our conclusions.
Further information about the methodology can be found in Appendix A of the main report.
Section 2: Supporting analysis — Female workforce participation (Pages 56 – 58)
This section contains supplementary charts for Chapter 4 – Female Workforce Participation of the main report. It includes a number of charts showing the effective marginal tax rates for second income earners at a range of income levels.

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