Meet the Minister Event: The Hon Josh Frydenberg MP

Committee for Melbourne and event partner, Deloitte Australia, were delighted to host the Federal Treasurer, The Honourable Josh Frydenberg MP, who shared his thoughts with our members on Greater Melbourne’s economic recovery.

The Treasurer outlined the Morrison Government’s recovery plan, and how government is working with industry and community to build back stronger and protect our future prosperity.

Treasurer Frydenberg noted that three responses to the pandemic will reshape Australia’s economy and are likely to remain permanent features:

1. Digital uptake: the acceleration of digital uptake will transform the ways in which goods and services are produced and delivered, as well as the nature of work itself.
2. Regional strength: more Australians are relocating to regional areas, which will have implications for local infrastructure, amenity and housing.
3. Supply chain resilience: Australia’s supply chains have been significantly tested throughout the pandemic. Minimising vulnerabilities, especially for essential products during times of crisis, will be prioritised.

In the conversation that followed, Committee for Melbourne CEO, Martine Letts, and Deloitte Australia Chairman, Tom Imbesi, discussed with the Treasurer several key issues related to the Committee’s agenda, including the vaccination rollout, border re-openings, digital transformation, skill shortages, as well as energy and climate change.

The Treasurer agreed that:

• Acceleration of the vaccine rollout and a coordinated national approach to opening our internal and external borders was critical.
• Falling immigration and an ageing population are challenges for Australia’s future productivity. Australia will need to work hard to attract and retain talent to build the next phase of our economic development.
• Resilient and highly functional digital infrastructure, along with supportive regulation, will enhance productivity and economic growth.
• Our universities possess great research capacity and there are opportunities for strengthening our advanced manufacturing base that builds on that research.
• The conversation about climate and energy policy must become more focussed on the need for Australia to commit to net zero by 2050 to safeguard our economic future.

The Committee thanks Treasurer Frydenberg for joining us, Tom Imbesi for his insights and Deloitte for their support.

For more information on the Committee’s policy agenda, contact Leanne Edwards at ledwards@melbourne.org.au.