Treasurer announces investor roundtable series

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The federal government last week announced it would hold a series of investor roundtable forums over the next 12 months.

Treasurer Jim Chalmers told an audience at the Queensland Investments Showcase the roundtable series was intended to provide the government with ideas on growth areas in investments.

Chalmers said the first roundtable would be held in November and focus on social and affordable housing, with the last roundtable of this forum being held in September 2023.

“To make sure our conversations are targeted, productive and have a degree of continuity, the roundtables will have 20 core participants,” Chalmers said.

“They include the CEOs of our big four banks, along with the heads of some of our largest superannuation and investment funds.”

Chalmers said the participants in the roundtables also represent institutional investors that have more than $2 trillion in assets under management.

“And all participants have the smarts, insight, and diverse range of experiences, to make these roundtables a success,” Chalmers said.

The treasurer used the address to the showcase audience to outline his concerns about the economy as he gets closer to releasing the budget later this month.

Chalmers said the world is facing the prospect of a third economic slowdown in 15 years.

“The first was a financial crisis that became a demand shock. The second was a health crisis that became a supply shock,” Chalmers said.

“The third could be an inflationary shock and a hard landing brought about by rapidly tightening monetary policy.”

Chalmers said that the government’s response to the current economic climate “will be more targeted, more measured, and more supply‑side focussed so it isn’t counterproductive and doesn’t put extra pressure on the independent RBA”.

He said that the government will seek to help with cost of living increases by implementing measures for cheaper medicines and childcare.

“It’s why we’ll also up our investment in skills and training: preparing people for higher‑wage opportunities and supporting pay rises in the care economy — and why we’ll invest substantially in cleaner, cheaper, more reliable energy,” Chalmers said.

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