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."

Malcolm Turnbull
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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.

The Government is bringing that competitive drive to our tax system, our energy markets, and our economy.

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.

The burden of high energy costs is also borne by workers and their families - when manufacturing moves offshore in search of cheaper energy - and by those on lower incomes hard-pressed to afford higher power bills.
The Government is putting downward pressure on electricity and gas prices to ensure Australian businesses are as competitive as possible.

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

Free trade and open markets are a big part of Australia's 26 years of uninterrupted economic growth. 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

Under the Turnbull Government

26th year
Economic growth for Australia 
355700
Jobs created in the last year 
2017/18 Budget 
A plan for jobs, guaranteeing vital services, easing the cost of living

Responsible Ministers

The Hon David Coleman MP
Assistant Minister for Finance
The Hon Scott Morrison MP
Treasurer
The Hon Kelly O’Dwyer MP
Minister for Revenue and Financial Services, Minister for Women, Minister Assisting the Prime Minister for the Public Service
Senator the Hon Mathias Cormann
Minister for Finance, Special Minister of State