Brisbane Action Plan lays down G20 pathway THE G20 Brisbane Action Plan sets out in more detail the actions member nations will take to pursue the group's ambitious growth goal. Here's some of the highlights: * GROWTH After years of fitful recovery following the global financial crisis, the G20 now agrees on the need for bold and coordinated push to generate strong, sustainable economic growth across the bloc. First, it's set an ambitious goal of lifting G20 growth by more than two per cent to 2018. Second, it's targeting big target areas like investment, competition, trade and employment alongside macroeconomic policy. "Each member has developed a comprehensive growth strategy along these themes," the plan says. Third, G20 members plan to be more coordinated in the ways they go about achieving this. "We stand ready to use all policy levers to underpin confidence and the recovery," the plans says. * GLOBAL ECONOMIC CONDITIONS There have been improvements in the past 5-6 years, but the overall pace has been unsatisfactory. Pick-ups have been seen in the US, UK and Canada, but Europe and Japan are struggling. Public and private debt levels remain high and growth is uneven and not generating enough jobs. Monetary policy has been loosened, resulting in much lower borrowing interest rates - and this is helping. But the world economy is still vulnerable to financial shocks and geopolitical tensions. "This underlines the importance of having a clear plan that draws together the appropriate mix of policy responses," the plan says. * WORKING TOGETHER Some 1000 individual country plans have been submitted. IMF and OECD analysis shows if they are fully implemented the growth benefit will be 2.1 per cent to 2018. About one quarter of this increase will be a result of positive "spillovers" from simultaneous implementation. "Our actions will boost non-G20 GDP by over 0.5 per cent by 2018," the plan says. Actions are focused on fostering infrastructure investment, cutting red tape, boosting trade, streamlining regulation, promoting competition and lifting employment. Central banks have committed to carefully calibrate and clearly communicate interest rates announcements. There's also mention of a rapid push toward floating exchange rate systems. China currently operates a fixed system. * EMPLOYMENT There are more than 200 million people jobless across the world - 30 million more than when the GFC began. Of that total 75 million are young people. The G20 will have country specific plans to to boost employment, alongside the growth strategies. This will include bringing more women into workforces. The G20 wants to reduce the gap labour force participation rates between men and women in member countries by 25 per cent by 2025. "This will bring more than 100 million women into the labour force, significantly increase global growth and reduce poverty and inequality," the plan says. For young people, the G20 is renewing its fight against youth unemployment by increasing access to quality education, training and skills development. Many G20 members are also looking at issues affecting people with disabilities and the long term jobless, as well as insecure jobs in the informal economy. G20 labour minister will report back next year on their progress. * ACCOUNTABILITY The G20 knows it won't reach its growth goal unless every member implements their promised reforms. "We will monitor and hold each other to account for the implementation of our comprehensive growth strategies," the plan says. Source: G20, Brisbane Action Plan