Moving to a more authentic and comprehensive measure of productivity means recognising that not all value is immediate, monetised or measurable in output per hour terms. This paper outlines some practical, forward-looking approaches to ensure Australia's productivity framework reflects the true value of service-sector investments and supports better policy decisions in a time of transformation.

Australia is a low tax country, with increasing demands for government spending. This paper identifies three simple tax reforms which would raise an extra $70 billion a year without hurting low or middle-income Australians: more comprehensive taxation of capital gains, the introduction of an annual wealth tax and the introduction of a wealth transfer tax.

This outlook looks at the latest labour market developments and prospects in OECD member countries. It also discusses the challenges population ageing poses more generally. The consequences of an ageing workforce for productivity growth are analysed. Without swift changes in policies and behaviours, GDP per capita growth will slow down significantly in most OECD countries.

This report highlights how today’s young Australians differ from previous generations and explores what this means for their economic security, work opportunities, living arrangements, path to independence and overall wellbeing. For policymakers seeking to seeking to ensure that an intergenerational pattern of improvement continues, this report offers three implications.

From 1996 to 2021, Australia’s rate of housing mobility declined from 18% to 15%. This paper assesses the implications of this shift and outlines the underlying drivers. Past work links this to Australia’s decline in job mobility, but this paper finds at most weak links. The findings challenge a number of common narratives.