Key findings were shared first with staff at a Super Regional Speaker Series session in Melbourne, ahead of the report being released to the media.
‘Earth, Fire, Wind and Water’ was researched and prepared for ANZ by Port Jackson Partners.
- If Australia expands capacity quickly enough, commodity export revenues could reach $480 billion in real terms by 2030, even with significant price and margin reductions across key sectors.
- Direct and support sector employment could double, with at least 750,000 jobs created.
- To achieve this level of export growth, investment of around $1.8 trillion is required over the next 20 years.
- The opportunities and benefits can accrue more broadly than is commonly understood as more than half of the market capitalisation of ASX-listed companies is made up of business connected to commodity production or export.
- The risk of non-commodities sectors being ‘crowded out’ is present, but can be managed by increasing capacity in the economy through skills and production expansion.
- The opportunity for Australia in doing this is enormous and the potential benefits widespread. This does however require an invigorated national discussion in Australia to position itself thoughtfully and energetically to capture as much of the opportunity as possible and mitigate the negative impacts.
- Download the ‘Earth, Fire, Wind and Water’ report
- Watch the video of Angus Taylor and Warren Hogan discussing the report.