Perspectives on prosperity
Future [inc] is a series of thought leadership pieces written in conjunction with Chartered Accountants Australia and New Zealand. This analysis contributes to the debate for developing the prosperity of Australia and New Zealand.
Public debt and deficits
Designing a framework for Australia's future
The two core aims of our society are prosperity (the size of the pie) and fairness (how that pie is sliced up). Governments use fiscal policy - the level of government’s spending and taxing - and the nature and composition of its spending and taxation decisions, to help society meet these objectives.
Australia has an established framework - strategies, objectives, rules and institutional structures - for thinking about fiscal policy. However, this has not prevented some poor policy outcomes in the past.
Most recently, participants in the ‘political economy’ have been focused on achieving surpluses and eliminating debt. While debt management is an important part of managing public finances, it appears that this emphasis has made it harder to progress other policies aimed at Australia’s longer-term prosperity and fairness. The challenge is to address the fiscal pressures without their dominating other policy agendas.
This paper seeks to figure out what went wrong, and, more importantly, how to fix it.
The future of work
How can we adapt to survive and thrive?
Our economy and society are being shaped by large-scale shifts, from globalisation to digital disruption. Businesses are facing more intense pressures to respond to changing customer demands and new market entrants. Policy makers are reshaping their agendas. The forces of disruption are not just being driven by start-ups and felt by business leaders – they’re driving change in the workforce and labour market.
Two-thirds of those with less than five years’ experience (early-career Australians) expect that their job will not exist, or will fundamentally change, in the next 15 years. If they are correct, this means that there is likely to be a period of transition. Many will have to reskill, retrain or change jobs.
This paper shows that the workforce will change significantly in coming years. Using an extensive survey, it considers what this means for careers, skills, education and workplaces.
What is the future for offshoring?
The changing landscape
Offshoring has become a common strategy for many services organisations at a time when the services sector is rapidly increasing in importance in Australia and New Zealand.
This paper, prepared by Chartered Accountants Australia and New Zealand with the assistance of Deloitte Access Economics, seeks to explore the future of offshoring for Australia and New Zealand and what it means for organisations and government. It discusses the costs, benefits, risks and opportunities of offshoring business services from Australia and New Zealand.
The findings are based on analysis of trade data, a review of existing studies on offshoring, and consultation with a range of stakeholders, including selected services organisations from Australia and New Zealand that have offshoring experience.