Economy & Finance
"The Government that I lead is committed to providing the opportunities for Australians to achieve their best, built on a foundation of security that enables them to strive, and to thrive."
The Turnbull Government is delivering a competitive, dynamic economy to provide more opportunities for all Australians.
Australia is competing for jobs, investment and exports with the most dynamic markets of the 21st century. We are living in a time of economic change - unprecedented in its pace and scale.
Most of the technologies that have transformed our world are barely two decades old. Moreover, in the space of a single generation, economies once referred to as developing are now among the world’s biggest.
In an environment moving as fast as this, complacency is risky, and policies that drive productivity, innovation and Australia’s overall competitiveness are needed now more than ever.
Most of the burden of high company taxes is borne by workers because high taxes discourage businesses from expanding, from hiring and from paying better wages. That’s why the Government is cutting taxes for all Australian businesses, so they can invest more, employ more, and pay better wages.
Free trade and open markets are a big part of Australia's 26 years of uninterrupted economic growth.
Australia is party to 10 Free Trade Agreements (FTAs), which reduce barriers to trade and investment. Australia's FTAs provide:
- More opportunities for Australian businesses to access big foreign markets, meaning more local jobs
- More people around the world purchasing products made or grown in Australia, or accessing services delivered by Australians
- More product choice for Australian consumers, and lower prices for everyday household goods
The Government aims to boost trading opportunities for Australian businesses, and for foreign businesses to have trading opportunities with Australia. Free trade drives jobs in Australia, across every industry - from agriculture and engineering to education and tourism.
Wherever the Government can open the door for Australian exports, we will, because more exports means more jobs.
Australia and Peru recently finalised a comprehensive trade agreement that will generate exports, income and jobs. And the Trans-Pacific Partnership Agreement (or TPP-11) is a landmark deal for trade in our region. Australian businesses and farmers will now have more opportunities to export their food, fibre and services to more customers, more easily.
The Government welcomes the Council of the European Union agreeing to open negotiations for a landmark job creating Australia-EU trade agreement.
Under the Turnbull Government
Prime Minister of Australia
The Hon Malcolm Turnbull MP
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