$128,000,000,000 is the value to the Australian economy that can be realised by purposefully removing the persistent and pervasive barriers to women’s full and equal participation in economic activity. [1]
Despite some progress over recent years, Australian women still face deep and broad-ranging gender inequality and continue to shoulder a disproportionate burden of unpaid labour across all spheres of life. From being caregivers, nurturers and educators to taking on professional roles and community leadership – women’s essential contributions are often undervalued and unpaid, perpetuating economic inequality.
In the crudest economic terms, $128,000,000,000 is the value to the Australian economy that can be realised by purposefully removing the persistent and pervasive barriers to women’s full and equal participation in economic activity.[1] This prompts serious inquiry into whether Australia has the necessary social and economic settings to support the modern lives we lead, and to be internationally competitive with an economy defined by its diversity, dynamism, resilience and ingenuity.
In September 2022, the Minister for Women established the Women’s Economic Equality Taskforce. A group of eminent women were tasked with providing independent, ambitious and transformational advice to drive women’s economic equality in Australia.
The taskforce’s role was to provide recommendations to inform the Federal Government’s action to build economic equality for the ensuing decade. This work builds upon generations of leadership by Australian women in policy, research and advocacy spaces, which has given us insightful data and evidence to help describe women’s lived experiences and quantify dimensions of economic inequality. Despite decades’ worth of effort and work, the policy, legislative and attitudinal shifts required for Australia to realise its full economic strength have not fully emerged.
At our first meeting, the taskforce agreed that our early focus must be on improving the experiences of women doing it toughest, right now. Beyond hearing their stories of compounding disadvantages and their hopes and fears for the future, we learned that we needed to advocate for immediate and urgent action to make meaningful change.
In March 2023, we identified six priority areas for the Federal Budget, focusing on single mothers, young parents, childcare reform, and the wages and conditions of care workers. In June 2023, we provided advice on the design of a 26-week paid parental leave scheme. Following our advice, and the continued advocacy of so many others, we saw critical improvements to Parenting Payment Single, the abolition of ParentsNext and much-needed enhancements to Paid Parental Leave and Child Care Payments. The Government should be congratulated on these important first steps. Yet, as we show in this report, so much more is required.
We have had conversations with hundreds of women and advocates around the country, who each shared their unique experiences. From women working in corporate Australia through to those in non-traditional occupations and sectors, women in casualised and precarious employment, First Nations women, women with disability, rural women, culturally and linguistically diverse women, migrant women, and those most vulnerable to poverty and disadvantage.
Taskforce members drew upon their own networks, experiences and expertise to bring the concerns of their communities to our attention, and they proposed and foregrounded their ideas for a modern economy and a fair society. I want to thank and recognise the generosity and determination of the women we met across the country who trusted us with their experiences and hopes for a better future for themselves, their families and the nation.
In addition to examining complex, historic barriers to women’s progress, we also convened roundtables of experts, sought specific evidence and data from the government and reviewed relevant reports produced by academics and civil society groups.
We have heard Australian women’s call loud and clear. They are tired of waiting for action to feel safe and valued and have equal access to economic prosperity. They know their labour is essential to a well-functioning society and a resilient and dynamic economy. They talk about how they are systematically undervalued, underutilised and marginalised within current economic arrangements.
Australian women articulate clear and actionable shifts that will create a fairer, stronger Australia.
Women understand the influence of outdated gender norms on current policy settings that rely on assumptions that women will (or should) do the bulk of unpaid care and domestic work, have a disrupted career trajectory, earn less and accumulate fewer assets across their lifetimes. Young women particularly know they deserve better. They want to yield the benefits of their educations with fulfilling careers and reject the idea that they must choose between work and family life. [2]
The seven primary recommendations in this report are evidence-based and actionable, and their outcomes will be measurable. We have been clear in this report that the delivery of greater economic equality for women will require a decade of significant reforms. We have clarified that some reforms are urgent and demand immediate action, while others will be addressed in the near and long-term future. Our immediate and urgent actions will disrupt the compounding economic disadvantage accruing to women now and, longer term, will address systemic barriers that stymie the release of the full value of women’s economic participation to the benefit of all Australians.
The government’s commitments to women’s economic equality have been evident in the measures in the Women’s Budget Statements of October 2022 and May 2023. The benefits of purposeful action can already be seen in the reduction of the gender pay gap to 13 per cent. Our recommendations will pave the way for the next crucial steps.
In our interim advice to the government in March 2023, we recommended the raising of the base rate of income support and a review of the current system of indexation of payments and analysis as to their adequacy. It was pleasing to see the response to this in the May 2023 Budget and we encourage the government to continue to review the adequacy of these payments.
We can’t ignore the strong link between women’s economic insecurity and violence. Australian women continue to experience shocking levels of violence and abuse, whether that’s in their homes, workplaces or in the public realm. [3] The taskforce did not explicitly examine the incidence of violence experienced by women, but members were acutely aware of the deep and compounding impact of this on women’s lifetime economic security. Work that’s underway as part of the National Plan to End Violence Against Women and Children 2022-2032 must be coordinated with our findings and recommendations.
Our work has coincided with a challenging economic and fiscal context for Australian governments, businesses and households, yet we know that by acting now we will immediately unlock the latent value of women’s economic participation and create new pathways for addressing significant social and economic challenges, such as increasing poverty and growing inequality, a rapidly ageing population, harmful workplace cultures, inadequate quality childcare, pressures on single-parent households and critical skills shortages.
As we deliver this report, the Treasurer is releasing the Intergenerational Report which reveals the scale of productivity and innovation required to meet our country’s future needs. We strongly believe that creating an economy that utilises the full capacity of Australian women is foundational for solving that challenge. The taskforce also notes that our recommendations for economic equality will require commitment and resourcing of the National Strategy to Achieve Gender Equality to address the underlying bias at a whole-of-community level.
We thank the Minister for Women for her trust in the taskforce. Her consistent call for a report that independently responds to the needs of a contemporary Australian society guided us in making these ambitious and transformational recommendations.
The taskforce has resoundingly heard the voices of Australian women – they want action now. Global research shows us the social [4] and economic [5] value of acting now. In these challenging economic times, we require Government leadership to unlock the value women are wanting to create for the benefit of all Australians.
We have arrived at a moment of consequence where a genuine commitment to respecting women, and valuing and nurturing their economic contribution by removing systemic barriers, is vital.
Our report is the government’s roadmap for the way forward.
I want to thank Chantelle Stratford and the Office for Women team who supported our work, and Meredith Turnbull for her indefatigable energy and commitment in ensuring we captured the essence of all our work in this report. I cannot express my gratitude enough to the members of the taskforce for their determination and commitment to this complex work, their wisdom and courage, and the collegiate way in which we were able to agree on a set of recommendations. It has been a privilege to chair this impressive group of wise and compassionate leaders.
Sam Mostyn AO
Chair,
Women’s Economic Equality Taskforce
23 August 2023