Future Economy Forum Welcomes New Turnbull Ministery

The Future Economy Forum – a new coalition of industry groups representing key sectors that will lead the Australian economy – has welcomed the official appointment of Prime Minister Malcolm Turnbull’s new ministry.

The new ministry strikes the right balance between experience and the cultivation of new talent and ideas that will be crucial to the future economic success and prosperity of Australia.

In particular, The Forum has extended its congratulations to Steven Ciobo on his promotion to Minister for Trade and Investment – an increasingly critical portfolio during Australia’s transition from mining and manufacturing to a diversified services-based economy.

The key task for the new ministry is to hit the ground running and work with the key industry sectors that will drive the job creation and economic growth for the Australian economy into the middle of this century.

The Future Economy Forum was formed as a new platform to work with government to develop and support the industries that hold the greatest potential to be the major job and economic growth generators over the coming decades.

We have called on the Federal Government to develop a Future Economy Strategy to identify the key items for reform that will support growth across our rising industries.

The Forum wants the strategy to focus on six key policy areas: taxation, workforce, infrastructure, innovation, sustainability and trade.

The Forum shares Prime Minister Turnbull’s optimism about the future of the Australian economy and is looking forward to working with the Federal Government’s economic team and our industry Ministers to prioritise our sectors in the future economic planning of the country.

About the Forum

The Future Economy Forum’s founding members are the Tourism & Transport Forum Australia (TTF); the National Farmers Federation (NFF); the International Education Association of Australia (IEAA); the Financial Services Council (FSC); and the Australian Services Roundtable (ASR).

The Forum represent sectors that directly employ about 1.7 million Australians, with many more jobs generated in supporting and value-adding industries.

Our industry groups represent the sectors that provide the best potential to expand and increase the nation’s economic wealth and create the jobs that will provide opportunity and maintain quality of life for all Australians.

The Forum has been established to work with government to ensure these key sectors are able to grow and provide strong employment opportunities in the future, especially in the rising industries of tourism, agribusiness, financial services, international education and IT.