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So Australia wants to become innovative. The Lucky Country wants to become the Smart Country. It wants to embrace disruptive innovation, face the future…
Dear Valued Readers, It has been a while since I’ve written, mostly because I have become busier working on business ideas so I haven’t had…
I have travelled to Asia many times. I have experienced the traditional elegance of Japan, the ferocious hordes of China, eaten yum cha in Hong…
The Victorian Auditor General’s Office (VAGO) has just tabled a report into the ‘Operational Effectiveness of the myki Ticketing System’. For those of you…
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In Australia, the Australian Football League celebrated the contribution of Indigenous Australians to the game. This year’s ‘Indigenous round’ will be remembered for Adam Goodes’ war dance after kicking a goal. It was also reconciliation week, that is the week where Indigenous people were counted in the census and the historic Mabo decision that recognised Native Title. Yet, despite the mainstream acceptance that the past treatment of Indigenous Australians was shameful, there was little discussion that Indigenous Australians are still living with the effects of European colonisation. Indigenous Australians have a 10 years shorter life expectancy than non-Indigenous Australians; they make up 26% of the prison population in 2008 whilst making up 2.5% of total Australian population in 2006; 17% were unemployed in 2011 compared to 3.6% of non-Indigenous population; and Indigenous people account for 9% of homelessness. These social, health and economic indicators have budgetary consequences for both Federal and State governments. While there exists a strong moral case to reduce Indigenous disadvantage, there is also a very strong economic case for Australian governments: reducing Indigenous disadvantage could save both Federal and State governments $450,000per person over their lifetime.
I must commend the Australian governments, at both the Federal and State/Territory level for committing to reduce Indigenous disadvantage. As part of the governments’ efforts to reduce Indigenous disadvantage, they charged the Productivity Commission to produce a biennial progress report series – the Overcoming Indigenous Disadvantage (OID) series. The 2014 edition was released in November. I was interested to read this edition to see how efforts to reduce Indigenous disadvantage was faring, and if there was potential to for impact investment to make a difference.