Report demands action on Indigenous Economic justice

By PETER ROWE

A landmark report on Indigenous economic self-determination has determined that Indigenous economic development has been held back through the lack of government support.

The Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs report on Indigenous economic self-determination has called for action and “not just another document gathering dust” to empower growth.

“It validates what Indigenous people have long known – the current system is holding back billions of dollars in potential Indigenous economic development,” said chair Chair of the First Nations Economic Empowerment Alliance, ANU Professor Peter Yu.

“The evidence is overwhelming,” Professor Yu said. “Indigenous communities hold massive potential for generating sustainable wealth through their lands and other assets. But we face formidable structural barriers that must be dismantled now, not in some distant future.”

The Committee’s 22 recommendations align powerfully with two years of intensive research by ANU and the expanding role of the First Nations Economic Empowerment Alliance, pointing to an urgent need for fundamental reform.

“We’re not talking about minor piecemeal adjustments,” Professor Yu added. “We need to completely reimagine the economic empowerment of Indigenous peoples”.

Drawing on Canada’s successful legislative framework for Indigenous economic self-determination, Professor Yu has called for immediate action to modernise Australia’s institutional architecture.

“While Canada moves forward, Australia risks being left behind. The solutions are clear – we need to remove investment barriers while simultaneously building Indigenous organisational and business capacity,” Professor Yu said.

“This report is not just another contribution to the discussion – it’s a demand for immediate action.

“The time for incremental change is over. Government, industry, and Indigenous leaders must come together now to drive the fundamental reforms needed for genuine economic justice.”