Executive Summary
Assessment and Recommendations
Chapter 1. The Short-Term Challenge: Riding the Commodities Roller-Coaster
-Recent Macroeconomic Performance
-Monetary Policy
-Short-Term Prospects
-Fiscal Policy
-Progress in Implementing Tax Reform
-Annex 1.A1. Treasury Model Simulations of a Terms-of-Trade Shock
-Annex 1.A2. Sensitivity of Corporate Taxes to the Terms-of-Trade
Chapter 2. Lont-Term Structural Challenges
-The Political Context of Reform: Getting the Most out of Fiscal Federalism
-The Major Long-Term Challenge: Responding to Ageing
-Benchmarking Performance against Other OECD Countries
-Closing the Productivity Gap
-Rising Labour Utilisation
-The Long-Term Fiscal Challenge from Ageing
-Annex 2.A1. Progress in Structural Reform
Chapter 3. Fiscal Relations across Levels of Government
-Australian Federalism: The Main Features
-Issues Concerning the Allocation of Spending Responsibilities
-Issues in Funding Arrangements for Sub-National Governments
-Strategies to Secure Fiscal Discipline
-Concluding Remarks and Policy Recommendations
Chapter 4. The Need for Further Reforms to Infrastructure Services
-Insufficient Infrastructure Capital is Not a General Problem
-The Infrstructure Service Reforms Were Largely a Success
-Ensuring Competitive Neutrality in a Freight Transport Market
-Energy Markets are Still Not Fully Competitive
-Much Remains to be Done to Make Water Supply Sustainable
Chapter 5. Reforming Industrial Relations
-The Industral Relations Arrangements Have Evoled Gradually
-Implementing WorkChoices
-Assessing WorkChoices and Options for Further Reform
-Summing
Chapter 6. Improving Incentives to Work
-Raising Labour Supply of Women with Families and Lone Parents
-Raising the Labour Force Attachment of Older Workers
Glossary