THE National Panel for Economic Reform will meet for the first time on Tuesday to hear Treasurer Wayne Swan give an economic and fiscal update.
The panel includes Mr Swan, Prime Minister Julia Gillard, Business Council of Australia president Tony Shepherd, Australian Council of Trade Unions secretary Dave Oliver and representatives from Australian Industry Group, Australian Council of Social Services, Council of Small Business Australia and Australian Chamber of Commerce and Industry.
"It is plainly in Australia's national interest to bring this diverse collection of representatives to the table together to discuss the most effective way to progress the reforms that will help secure our future," Mr Swan said in his economic note today.
"We will strive for cooperation to serve a common purpose: to ensure the strong and sustainable growth and health of Australia's economy for decades to come."
The treasurer intends to tell the panel that while Australia's economic outlook remains positive, future success is not assured unless the right decisions to support jobs and growth are made.
He said it was "crystal clear" that continuing with the economic systems and assumptions of the past would not be sufficient to lead to future prosperity.