The Productivity Commission has released the study report from a 12-month study into the geographic impacts of the transition of the Australian economy following the resources investment boom.
Transitioning Regional Economies provides an assessment of the Australian economy, with a focus on regions. Key points of the report include:
- Over the past 30 years the Australian economy has shown considerable flexibility and resilience.
- The mining boom has made Australians substantially better off in the short and long term.
- Most major cities have a higher adaptive capacity than many regional areas.
- Ad hoc financial assistance for regions is rarely effective and government funded activities should have better coordination and evaluation.
- Specific adjustment assistance should be reserved to extreme events and targeted to assisting the most vulnerable families and individuals.
You can download the overview and full report from the Productivity Commission website.