ECONOMIC AND POLICY OUTLOOK 2023
CEDA’s Economic and Policy Outlook 2023 report provides valuable analysis to help business and policy makers respond to critical issues.
We explore what to watch for across the economy in 2023 and examine three key areas: energy, housing and electric vehicles.
Check out highlights of the report and explore more resources below.
ECONOMIC OUTLOOK: THE ADJUSTMENT WE HAD TO HAVE
Jarrod Ball | CEDA Chief Economist
While 2023 will be challenging, Australia remains better placed than most advanced economies. Barring any new external shocks, the country will avoid a recession.
What can we expect in 2023?
- For consumers, higher interest rates and cost-of-living concerns will increasingly bite
- Business will remain cautious until inflation abates and there are more encouraging signs of growth.
What is CEDA looking out for?
- The Reserve Bank of Australia review (due in March) and how and when the Federal Treasurer responds
- The migration policy review’s report (due in early 2023), that will provide a foundation for the Federal Government to fine-tune migration settings
- Policy across energy and housing.
HOUSING POLICY BACK ON THE AGENDA
Cassandra Winzar | CEDA Senior Economist
The Federal Government’s Housing Accord puts the issue back squarely on the policy agenda and focuses on housing supply.
What can we expect in 2023?
- The resumption of strong population growth and tight rental markets means housing affordability will remain a hot-button issue throughout 2023
- Government and industry can set a course for real improvements - if they use 2023 to build out the foundations of the Housing Accord.
What is CEDA looking out for?
- The direction is right but the detail is light - more clarity is needed on the commitments in the Housing Accord, and who is responsible for them
- A more direct boost to social housing stock to improve outcomes for our most vulnerable cohorts
- Removing barriers to zoning, planning and land release
- The availability of a skilled construction workforce to deliver on more houses.
ENERGY MARKET VOLATILITY IS SET TO CONTINUE THROUGH 2023
Andrew Barker | CEDA Senior Economist
What can we expect in 2023?
- Continuing intervention may be required as global energy market volatility persists.
What is CEDA looking out for?
- Measures from governments to protect vulnerable consumers during future energy market disruptions, while ensuring incentives for investment in energy efficiency and new sources of energy (including renewables) aren't impacted
- Security of supply - critical during the energy transition.
AUSTRALIA MUST ACCELERATE ITS ELECTRIC VEHICLE UPTAKE IN 2023
Ian Hamilton | CEDA Senior Economist and Policy Adviser
Electric passenger vehicles (EVs) will play a critical role in decarbonising the sector - with current passenger vehicles accounting for 43 per cent of transport emissions - and ease our transition to a net-zero economy.
What can we expect in 2023?
- EV take-up is increasing, but from a low base: in 2022, over 39,000 new EVs were sold compared to just 5000 in 2019.
What is CEDA looking out for?
- Policy levers to enable EV uptake including changes to fuel-efficiency standards and parallel import restrictions
- An increase in the coverage of charging infrastructure.
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EPO 2023 vidAt CEDA's Economic and Policy Outlook discussion, we asked CEDA Members what their key takeaways were.
Hear from:
-Peter Halliday, CEO, Siemens Australia
-Dave Hopping, CEO Solutions & Services, Siemens Smart Infrastructure
-Tessa Knox-Grant, Principal, Sustainable Transport Lead for Australasia, Arup
-Megan Motto, CEO, Governance Institute of Australia
-Melinda Cilento, CEO, CEDA
Check out what they had to say about decarbonisation and the importance of multi-sector collaboration. -
Director for Australian Centre for Housing Research, The University of Adelaide: Professor Emma Baker
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Head of Transport, Emissions Reduction Division , Federal Department of Climate Change, Energy, the Environment and Water: Matthew Ryan
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AUSTRALIA'S ECONOMY IN 2023: FEDERAL TREASURER CEDA ADDRESS
Federal Treasurer the Hon. Jim Chalmers will deliver a major economic address to CEDA in Brisbane on 16 March 2023.
We will be exploring a wide range of topics including:
- The Government’s economic and fiscal priorities two months out from the May Budget;
- The global economic circumstances in which the Government’s second Budget is being pulled together; and
- Canvassing some of the key features of the Budget – including confronting the inflation challenge, how we can become more productive and grow the right way out of the downturn, and the continued work to put the federal Budget on a more sustainable footing.
Join CEDA with your guests and register today.
TREASURER'S ESSAY A CALL FOR NEW IDEAS: OPINION
Treasurer Jim Chalmers’ recent essay on “values-based” capitalism has elicited strong responses from all sides of the economic debate. While it is encouraging to see Australians engaged in a conversation about the future economic direction of the nation, the intensity of the response has been surprising, writes CEDA CEO Melinda Cilento.
