Pre-Budget Submission 2024-25
Australia’s private capital investment market has grown steadily and significantly over the past decade, and private equity, venture capital and private debt funds managed $61 billion in assets at September 2022. But this figure is a relatively small component of the vast pool of funds required to meet Australia’s most pressing priorities: the clean energy transition; rising health, aged care and disability care costs; and developing the critical infrastructure and industries of the future.
Australia is similar to other major economic centres in that private capital is increasingly being called on to meet areas of unmet need or fulfil Australia’s economic potential, often in working alongside public capital.
Beyond investing in national priorities, private capital can boost the productivity and performance of home-grown businesses, cultivate jobs in high-value, high-paying industries, and create a more dynamic economy. Private capital can also build wealth for Australians in retirement.
This Submission outlines a pathway for the Australian Government to facilitate the growth of Australia’s private capital industry through a series of modest policy proposals, that will empower private capital to invest in Australian ideas, businesses and communities.
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