- Western Australia's new productivity commission to be known as the 2050 Commission
- 2050 Commission to focus on the productivity, growth and transformation of WA's economy in the lead-up to 2050 and beyond
- Industry Development Action Plans to provide whole-of-government roadmaps for priority industries and job creation
- Commission to be given powers for referred and self-initiated inquiries
- Major Infrastructure Proposal Assessment threshold to be raised to $200 million and indexed
The Cook Government is continuing to ensure Western Australia's economy remains the strongest in the nation by establishing the 2050 Commission, the State's first-ever productivity commission.
The 2050 Commission will provide strategic advice to government on the productivity, growth, and transformation WA's economy requires so it can meet the needs of Western Australians ahead of and beyond 2050.
Reporting to the Premier, the 2050 Commission will consider:
- how to equitably enhance living standards for all Western Australians;
- the needs of the WA economy in respect of regulation, public infrastructure, workforce development, innovation, decarbonisation, and climate resilience;
- the improvement of Western Australia's competitiveness for private sector investment;
- the facilitation of structural economic change in ways that are fair, just, and inclusive for those affected; and
- how best to improve services delivered or directly funded by government.
Its three core functions will be to:
- prepare Industry Development Action Plans, as whole-of-government roadmaps to support the delivery of the government's economic development priorities in specific industries;
- conduct inquiries and research on matters referred to it by the Premier or Treasurer while also being able to propose topics for self-initiated inquiries to the Premier, for approval; and
- continue to perform the Major Infrastructure Proposal Assessment function currently delivered by Infrastructure WA, but with the threshold for assessment increasing from $100 million to $200 million, indexed so that it keeps up with market conditions.
The 2050 Commission will replace Infrastructure WA (IWA) and take on the broad inquiry functions of the Economic Regulation Authority (ERA).
The ERA will continue to regulate specific markets, with its inquiry powers limited to those markets.
The 2050 Commission will be a statutory authority, with a Commissioner and Deputy Commissioner, full-time staff, and an advisory committee consisting of representatives from industry, unions, First Nations people, regional WA, and other stakeholder groups.
The proposed model resulted from an extensive industry, union, and public sector stakeholder engagement process undertaken by Cockburn MLA David Scaife, Parliamentary Secretary to the Premier.
Legislation to establish the 2050 Commission to be introduced in the second half of this year with a view to establishing the agency in mid-2027.
In the intervening period, IWA and the ERA will collaborate to deliver the proposed scopes of work of the new Commission.
As stated by Premier Roger Cook:
"Establishing the 2050 Commission is part of my government's strategy to become a global leader in investment attraction, industry facilitation and regulation.
"The 2050 Commission will help us remain the strongest economy in the nation and remain the best place in the world for our children and their children to get a quality job.
"As the world approaches net zero by 2050, Western Australia has incredible opportunities to thrive, through our critical minerals, green fuels, and decarbonised products, like green iron.
"The 2050 Commission will help us ensure both industry and our public sector are match fit, productive, and set up for the challenges and opportunities of the future.
"My thanks go to the Board and staff of Infrastructure WA for their work to date and working with us as we deliver the 2050 Commission."
As stated by Treasurer Rita Saffioti:
"Western Australia has the strongest economy in the nation, and the 2050 Commission will help ensure it stays that way for decades to come.
"This is about taking a long-term, evidence-based approach to productivity and economic reform, so we continue delivering higher living standards, secure jobs, and sustainable growth for Western Australians.
"The 2050 Commission will give government the independent advice it needs to lift productivity, attract private investment, and guide the next phase of WA's economic transformation.
"By streamlining assessment processes and lifting the Major Infrastructure Proposal threshold, we're making sure our settings keep pace with market conditions and support investment at scale."
As stated by Parliamentary Secretary David Scaife:
"Consultation with industry, unions, and the community highlighted the importance of long-term economic planning that goes beyond individual projects or election cycles.
"That feedback has shaped the creation of the 2050 Commission, which is focused on growing new industries, creating local jobs, and enhancing the living standards of every Western Australian.
"The 2050 Commission will ensure government has clear, evidence-based advice to guide economic growth and manage structural change through to 2050 and beyond."
