This week in Canberra we are bringing together leaders from the business community, the union movement and civil society to work on making the Australian economy stronger, fairer, more productive and more resilient into the future.
These discussions will be informed by nearly 900 submissions from experts, industry leaders and individuals and over 40 forums that Ministers have held right around the country.
This process has brought forth a wide range of views on everything from deregulation to tax reform. This healthy public debate has also made it clear there is substantial common ground on many issues - and that is where the immediate opportunities lie.
Australians understand this is a time of significant global economic uncertainty. Yet for our nation this is also a moment of profound opportunity.
Because when you think about the big changes underway in the world: the shift to clean energy, the economic transformation of the Indo‑Pacific, the race for new skills and knowledge and the rise of new technologies like AI, there is nowhere else you'd rather be than right here in Australia.
With our resources, our skills, our sunlight and space and our proximity to the fastest growing region of the world in human history, we have a powerful combination of national strengths.
Making the most of these advantages depends on making sure our economy rewards people for their hard work, invests in their talent and capacity and nourishes their aspiration.
That's what this roundtable is about, it's what the agenda we took to the election was all about: a plan defined by Australian values, built on valuing every Australian.
This is what people voted for on the 3rd of May and it is what our government has spent every day since working to deliver.
As promised, our legislation to cut student debt by 20 per cent was the first bill to pass the parliament.
This reform saves 3 million Australians an average of $5,500 and - just as importantly - it makes the repayment system fairer into the future.
We've already opened the first of our 50 new Medicare Urgent Care Clinics, adding to the network of 87 we opened in our first term. Taking pressure off public hospitals and making sure people can get the treatment they need, with just their Medicare card.
From the 1st of July this year, another round of energy bill relief has rolled out for every household and small businesses around Australia. Paid Parental Leave has been expanded by another 2 weeks and superannuation has been added to it for the first time ever. Three million workers on the minimum wage and award wages have received another real pay increase.
And on the 1st of July next year - and the year after that - all 14 million taxpayers will receive our top‑up tax cuts. Because we want Australians to earn more and keep more of what they earn.
We are investing in greater economic opportunity for women, abolishing non‑compete clauses and pursuing competition reform to boost productivity.
Delivery is what drives our government. We understand that delivery is fundamental to building and repaying people's trust, because delivery is what makes a positive and concrete difference to people's lives.
As Prime Minister and as Treasurer, we both see this week's roundtable as a valuable opportunity to help deliver and fulfil the commitments we have made to the people of Australia, as well as expanding our vision to take our nation forward.
Delivering on our promise to build more homes means cutting through the red tape that is holding back housing construction, as well as clearing away barriers that stand between skilled workers and key projects.
We are committed to making more things here in Australia. This is why we want to get on with fixing the broken approvals process, so households and industry alike can seize the opportunities of cleaner and cheaper energy to bring down their bills and power the next generation of manufacturing jobs.
We want to make sure Australian workers and Australian business have the skills and safeguards to get the best out of new technology, including AI. In such a fast moving space we must get the balance right: maximising the productivity benefits while protecting people from potential risks. Ensuring AI is a creator of good jobs, not a threat to them.
These are significant challenges but the last 3 years offer compelling proof that Australia is more than capable of rising to meet them.
Together, we have come through the worst global inflation since the 1980s and the biggest international energy crisis since the 1970s.
When we came to government in May 2022, real wages were going backwards, inflation had a 6 in front of it and was rising and interest rates had started going up.
Today, real wages are growing at their strongest rate in 5 years, inflation has a 2 in front of it and interest rates have been cut 3 times in the last 6 months. At the same time over 1.15 million new jobs have been created.
Importantly, the gender pay gap is down to a record low and women's workforce participation is at a record high.
This progress is a credit to the hard work of the Australian people and it is a powerful repudiation of those who argued that the only way to bring inflation down was to drive unemployment up and cut services and support for people under pressure.
Our responsible approach has brought inflation under control while providing direct assistance with cost of living, keeping employment strong, getting real wages up and delivering the first back‑to‑back budget surpluses in nearly 2 decades.
There is more that can and must be done to drive growth, boost productivity, strengthen the budget and secure our future prosperity.
This is not a task for one roundtable or the decisions of one budget. It is a continuous effort: bedding down the changes we have begun, building on the foundations we have laid and delivering further reform in coming weeks, budgets and parliamentary terms.
During the campaign, we indicated the Australian economy had turned the corner. This week's roundtable will help us make our way forward, with no‑one held back and no‑one left behind.
