Federal Member for Groom Dr John McVeigh has welcomed the Turnbull Government’s commitment to addressing the impacts of the transitioning economy on local communities.
The Government has directed the Productivity Commission to investigate the impact of the economic transition following the resources boom on regional economies including the electorate of Groom and provide evidence for the best policy responses to deliver strong economic growth that is shared across the country.
Dr McVeigh is encouraging public participation in this inquiry which will give local communities the opportunity to promote policy solutions that support economic growth and jobs for Australians.
Dr McVeigh said that the Turnbull Government wants to ensure that hard-working Australians are not being left behind.
“The Turnbull Government has a clear economic plan to support this transition to fuel economic growth and deliver our children and grandchildren the jobs they deserve but we need to better understand and respond to the local drivers and causes of economic change ” Dr McVeigh said.
“Through this process the Productivity Commission study will help determine how well different regions are adapting to the transition the factors which influence their capacity to adapt to changes in economic circumstances and to identify those regions most at risk of failing to adjust.”
Dr McVeigh said the Turnbull Government wants all parts of Australia to successfully manage the transition.
“As the Member for Groom I want our community members to benefit from their own efforts and the opportunities enabled by the Turnbull Government’s strong economic management. This initiative by the Turnbull Government signals our commitment to evidence-based policy that delivers prosperity for all Australians.”
The Commission is due to provide an initial report to the Government in April 2017 and a final report within 12 months. Public consultation will be undertaken as part of the study and the Government encourages all interested parties to participate. Further information and the terms of reference are available on the Commission’s website.