Strengthening the economy

Future challenges

While tackling the global financial crisis, the Government did not lose sight of the long‑term challenges. The stimulus not only supported the economy, it also began laying the groundwork to ensure Australia's long‑term prosperity.

Growing the whole economy

The Government has begun implementing an ambitious tax reform program to make the tax system fairer and more efficient.

To increase the return to the community from our resource deposits and to stimulate investment across the economy, the Government will

introduce a Resource Super Profits Tax (RSPT) and reduce the company tax rate.

These reforms will ensure all Australians share in the returns from our resources and will promote economic growth.

Building our capacity

The Government is investing in skills and infrastructure to lift the productive capacity of the economy.

The Government's $661 million
Skills for Sustainable Growth strategy will provide more training places, increase the quality of our training, and tailor places to meet better the needs of our growing economy.

The Government is investing a further $5.6 billion over the next decade to support State investment in nation building infrastructure, and nearly $1 billion in Australia's rail networks.

Investing in renewables

The Government will invest $652 million over four years in a new Renewable Energy Future Fund.

The Fund will leverage private investment in large and small scale renewable energy projects, including wind, solar and biomass. It will also be used to encourage Australia's take‑up of energy efficiency, helping businesses and households reduce their energy consumption.