Catherine Livingstone has one of the best business brains in the country, and ahead of the economic roundtable in Canberra next week she has called for a bold, system-level approach to the economic policy discussion.
Ms Livingstone says a piecemeal approach of isolated policy incrementalism will not be enough for much-needed changes to the nation’s operating model.
The sectors that Australia has relied on for decades for growth are in many case in decline, and there are not enough new industries coming through to generate the scale of growth that the country needs.
Ms Livingstone is Chancellor of the University of Technology Sydney and served as chair of CommBank, Telstra and the CSIRO as well as President of the Business Council of Australia and currently serves on a variety of boards across medtech, the space industry and logistics.
With a background in some of Australia most innovative companies – including six years as CEO at Cochlear – Ms Livingstone has now agreed to be a co-Patron of the 2025 InnovationAus Awards for Excellence with Chief Defence Scientist Professor Tanya Monro.
In this Commercial Disco podcast, Ms Livingstone examines the global forces that are shaping Australia’s challenge, and makes the case for a different kind of integrated policy agenda.
The Treasurer’s economic summit is an opportunity to step back and apply a system approach to making decisions about what Australia’s business model should be, Ms Livingstone told InnovationAus.com.
The shifting geopolitical environment and technology – of which artificial intelligence is just one element – mean Australia can no longer rely on the past as a predictor of the future (or even the present).
On the one hand that is a discussion about building resilient communities. That’s health and housing, social services and education.
But she says the discussion for the summit must also look at the drivers of prosperity, and how each of the many parts of this system are interdependent.
“Now is really the time to stand back and take that system view,” Ms Livingstone said. “That is the first thing I would be saying to the Treasurer as they formulate the program for the round table.”
Ms Livingstone says the Treasurer is a suitable person to lead the process. Having won the 2025 election, she says the Albanese government has a mandate to govern – to take the necessary measures to build a resilient and prosperous future for the country.
“When we talk about mandates and elections, I’m persuaded by the view that an election outcome – and presuming you are the successful party – gives you the right to govern,” Ms Livingstone said.
“And that is the key. You may have taken specific policies as headline policies as part of that election outcome, but the key thing is that you have earned the right – and the responsibility – to govern.
“That means you have to look across the system and not cherry pick individual policies. You are responsible for all policies and the whole system,” she said.
“So, is the Treasurer the right person? Yes. I mean, someone needs to take the lead.”
The InnovationAus Awards for Excellence 2025 are a six-month program of activity that culminates in a black-tie gala dinner ceremony at the Sydney Town Hall on Thursday November 27.
The Awards dinner is attended by 550 entrepreneurs, political leaders, VCs and business executives from across all industries – Australia’s innovation ecosystem.
You can reserve your seat at this event here (or book a table!)
And a reminder – there are still two leadership categories open for nomination until August 15, the Paul Shetler Disrupter of the Year category and the Innovation Leadership category. You can find details on the awards site or click directly through to the nominations system here.
Do you know more? Contact James Riley via Email.