Earlier this year, the Productivity Commission was tasked with undertaking a review of Australia’s productivity performance. This will be the second five‑yearly productivity review following on from the release of the ‘Shifting the Dial’ report in 2017. The review will recommend an actionable roadmap and identify priority areas for reform, including data and digital innovation and workforce skills. To date, the Commission has engaged with over 80 stakeholders across the economy and received a number of submissions and brief comments which have helped determine the focus of the Inquiry.
Skill formation is fundamental to future productivity growth and the future workforce will be a key areas of focus. How our schools, higher education and vocational training institutions, and other skills development processes can be most efficiently and effectively used to skill our future workforce will be explored in the review process.
The Commission will release Interim reports in the next month or two with the final report due to be published in 2023.