The Canberra Economic Advisory Group (CEAG) was established by the Chief Minister in February 2021 to advise the Government on ways to build a stronger and more resilient economy and to create local jobs as part of the ACT’s post COVID-19 recovery. CEAG was tasked with looking at longer-term considerations for the ACT, including advice on the currency of the 2016 ACT Statement of Ambition and potential areas of future focus.

The areas of focus for the Group included, but were not limited to:

• Advice on additional opportunities and actions for government, the private sector and relevant institutions to support growth and resilience in the ACT economy;
• Identification of systemic issues and barriers to achieving sustainable growth in the ACT economy and advice on strategies to address these issues;
• Advice on government measures to attract new investment to the ACT;
• Advice on future stages of tax reform to increase productivity; and
• Advice on opportunities for jobs growth.

Members were appointed directly by the Chief Minister based on their experience and expertise, such as experience and or qualifications in economics, commerce, public policy, senior leadership, international relations, as well as experience in the business industry, unions, and volunteer work in the ACT, or through Expression of Interest process. As part of this process, applicants submitted an expression of interest outlining their capabilities against the Terms of Reference. All appointments were endorsed by Cabinet.

Members were appointed for a six-month period commencing on 16 February 2021.

You can view the Terms of Reference for the CEAG (PDF 205KB).

Membership

Input into CBR Switched on

The CEAG acknowledged the challenges facing the ACT economy and the number of opportunities that Canberra could capitalize on as the COVID19 pandemic passes and economic expansion commences.

CEAG noted that the 2016 Statement of Ambition drove positive change in economic development, and the basic approach remained relevant. CEAG identified a range of areas to be strengthened and for further attention.

In summary, CEAG recommended:

• The ACT put a renewed focus on the Wellbeing Framework and Index as key to driving ACT actions, policies and investments for Canberra, to measuring performance and to promoting the assets and attractions of Canberra for talent, investment and indeed families seeking a model livable city.
• The themes outlined Directions of Travel in the 2016 Statement of Ambition be retained, but with digital and smart city mindset given greater focus and a stronger emphasis on workforce and investment attraction.
• New opportunities and challenges be incorporated in a 2022 edition of the Statement based on recent developments and trends but specifically also arising from COVID-19, in particular the strengths of Canberra being a connected city based on ‘nearbyhoods’ that may be attractive for people wanting to relocate from other capital cities.
• While noting the importance of focusing on key industry sectors since the 2016 Statement of Ambition, the approach should be more sector agnostic into the future, with the focus on to the types of businesses we want to encourage in Canberra.
• While the focus of a revised statement of ambition should remain as an economic document, 'wellbeing' is a defining feature of the ACT and could be used to frame the economic strategy, as well as being a mission in its own right.
• The ‘Directions of Travel’ should be evolved to more of a ‘Mission-led’ approach to shaping the next phase of Canberra’s future and focusing on truly transformative and comprehensive initiatives of most significance to the communities and businesses of the ACT.

Summary of CEAG Considerations

Read CEAG Summary of Considerations (PDF 143KB) | (Word 38KB)