The Productivity Commission (PC) has been tasked by the Australian Government to conduct an inquiry into creating a more dynamic and resilient economy. The PC was tasked with identifying priority reforms and developing actionable recommendations.
The PC has now released its interim report, which presents some draft recommendations that are focused on two key areas:
· Corporate tax reform to spur business investment
· Where efficiencies could be made in the regulatory space (ie, cutting down on red tape)
The interim report makes some interesting observations, and key features of the draft recommendations are summarised below.