Speakers: Jenny Wilkinson

Transcript

Jenny Wilkinson

Energy disruptions could persist. Financial conditions could tighten further, and the scale and timing of AI related investment and productivity gains remain difficult to judge. Overall, we're expecting growth to slow and there are downside risks to our budget outlook. The intergenerational report released in September places these developments in a longer term context. Previous reports focused on the implications of demographic change, which will continue to shape the economy for decades ahead. However, Australia's working age population remains more resilient than many other OECD countries. Together with the implications of population aging, the 2026 IGR also considers the profound implications of AI, of geopolitical fragmentation, of the energy transition and of Australia's industrial transformation. In closing, I'd like to note several organisational changes following the recent departure of Diane Brown. Katrina DeMarco will lead revenue, small business and law group. Sorry, she has been appointed to lead revenue, small business and law group, and Jason Orford is acting as Deputy Secretary of the International Corporate and Investment Group to assist the committee. Ms. Di Marco will be available to answer questions in both sessions. Thank you for the opportunity to make this opening statement, and I welcome your questions.