Starting today, prime minister Anthony Albanese and federal treasurer Jim Chalmers have called upon some of the biggest names in Australian economics to discuss different methods of reforming Australia’s economic processes to not only adapt to the current needs but also needs in the future. 

The main goal of the roundtable is to boost the productivity rate in Australia, which has dropped from 1.8% to 0.9% in the past 2 decades. Several advocates have already brought forward ideas such as the introduction of a 4 day working week, as well as increasing the GST to 15%. The government has already shot down the prospect of immediate tax reform at this meeting. 

There will also be discussion on how to reform several government schemes such as the NDIS as well as building and planning laws. Through reforming these schemes, the government can assure that they are economically sustainable in both the short and long term, while at the same time increasing the services these schemes deliver to average Australians. 

The economic reform roundtable will conclude Thursday evening. We expect to see more ideas presented in the coming days.

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Image: Image: Shutterstock – skipper_sr

Produced By: James Bale

Featured In Story: Saul Eslake: Independent Economist, consultant, speaker, and Vice-Chancellor’s Fellow at the University of Tasmania.

First aired on The Wire, Wednesday 20 August 2025