Former Prime Minister Malcolm Turnbull to Lead Major Economic Summit in Newcastle
Malcolm Turnbull, who served as Australia's prime minister from 2015 to 2018, has been confirmed as the headline speaker for a significant economic event in Newcastle next month. The Hunter Agenda 2026 summit aims to shape the future of the Hunter region as it navigates a transition away from coal dependency towards a more diversified and sustainable economy.
Event Details and Regional Focus
The Committee for the Hunter will host Hunter Agenda 2026 at NEX in Newcastle West on March 13. Alice Thompson, chief executive of the committee, emphasised the event's importance in elevating the Hunter's profile on both national and international stages.
"This will put the Hunter on the national and international stage," Ms Thompson stated. "The purpose is to bring big thinkers and local leaders together to the Hunter to gain insights to inform our journey."
As the region moves beyond its historical reliance on coal, the summit seeks to foster an economy that "continues to improve living standards" through innovation and strategic development.
Key Topics and Speakers
The agenda will cover a range of critical issues, including:
- High-speed rail connecting Newcastle and Sydney, with Tim Parker, chief executive of the High Speed Rail Authority, discussing its potential. Construction is planned by 2039.
- The John Hunter innovation precinct, airport and defence expansion, and port diversification as pivotal for regional growth.
- Economic positioning amid global forces, addressed by Richard Yetsenga, group chief economist at ANZ.
- Federal support for the transition, with David Shankey, chief executive of the Net Zero Economy Authority, outlining government plans.
Mr Turnbull will speak on the theme of "people being the most important resource in the new economy," highlighting the human element in economic transformation. Other notable speakers include Jennifer Westacott, chair of the authority shaping the city near Western Sydney International Airport, and AGL's Dave Moretto, who will detail plans for former power plant sites in the Upper Hunter, described as "the single biggest jobs' play" in the area.
Economic Context and Opportunities
An Insights Paper for the event notes that the Hunter is experiencing "profound disruption and unprecedented opportunity." The region has long powered Australia's economy through coal mining, electricity generation, and heavy industry, building a resilient economy worth $86.3 billion annually.
Key economic contributions include:
- Mining exports exceeding $40 billion per year.
- Manufacturing at $25 billion.
- Construction at $23 billion.
- Real estate at $12 billion.
- Health at $11 billion.
Additionally, the Port of Newcastle handles $48 billion in trade annually, and employment has grown at an average of 3% year-on-year since 2015. The paper asserts that "coal activity will reduce gradually over time and the Hunter economy will continue to grow," underscoring the need for coordinated action.
Strategic Coordination for Future Success
Ms Thompson stressed that the region's choice is "not between growth or decline" but between maintaining the current path or reaching its full potential. She advocates for enhanced coordination to accelerate progress.
"We can't do these things in silos if we want an accelerated trajectory," she explained. "It's about getting funding, commitments and the next steps locked in. The task now is aligning policy, investment and institutions."
With an international speaker yet to be announced, the summit represents a unique convergence of leadership focused on the Hunter's future. Ms Thompson concluded, "We've never had this level of leadership in one place focused on our region's future success. We told them our story and they're coming."
