The Women in Economics Network Pre-Budget Address is an ongoing collaboration between the Women in Economics Network (WEN) and the National Press Club that proudly ensures that women economists’ voices, views and expertise are part of our nation’s economic debates and discussions.

As the Australian and global economy grapples with intensified geopolitical conflict, energy supply risks and stubborn inflationary pressures, this year’s Federal Budget faces a complex set of economic challenges and trade-offs. Three leading Australian economists – Dr Luci Ellis (Chief Economist at Westpac Banking Group), Jo Masters (Chief Economist at Barrenjoey Capital Partners) and Dr Aruna Sathanapally (CEO of the Grattan Institute) – will share their outlook for the Australian economy and their expert views on what’s needed in the upcoming Federal Budget.

What are the economic risks and opportunities in this volatile economic landscape? What’s needed to revive productivity and fortify Australia’s resiliency against global shocks? What’s the best way to support the most vulnerable households against these financial pressures? The panellists will share their policy prescriptions while canvassing these heightening economic, sustainability and social equality concerns.

Luci Ellis Bio

Luci Ellis is Chief Economist for the Westpac Banking Group. She was previously Assistant Governor (Economic) at the Reserve Bank of Australia from December 2016 until October 2023. Prior to that, Luci was Head of Financial Stability Department at the RBA for eight years, spent two years on secondment at the Bank for International Settlements in Basel, Switzerland, and held several other senior positions at the RBA over a three-decade career in central banking.

Luci holds a PhD from the University of New South Wales, a Masters in Economics degree from the Australian National University and a first-class Bachelor of Commerce (Honours) degree from the University of Melbourne.

Jo Masters Bio

Jo Masters is a partner and the Chief Economist of Barrenjoey Capital Partners, a proudly Australian financial services firm. She focuses on analysing trends across the Australian and global economies and financial markets, delivering those insights to investors, and senior members and executives of government and business.

Jo has been a highly regarded part of the economic debate in Australia for 25 years and regularly shares her views at major policy, industry and educational forums, as well as in the domestic and international media.

Her career started in banking and financial markets, with 14 years at Macquarie Bank in various roles across economics, strategy and foreign exchange sales, before moving to ANZ. Most recently, Jo was the Chief Economist for EY Oceania.

Jo holds a Master of Economics from the University of Sydney. She is a mentor for the Minerva Foundation, a Guardian of the Council of Governors for the Cerebral Palsy Alliance Research Foundation and an Executive Member for the Australian Business Economists.

Aruna Sathanapally Bio

CEO and Economic Prosperity and Democracy Program Director

Dr Aruna Sathanapally joined Grattan Institute as CEO in February 2024. She heads a team of leading policy thinkers, researching and advocating policy to improve the lives of Australians. A former NSW barrister and senior public servant, Aruna has worked on the design of public institutions, economic policy, and evidence-based public policy and regulation for close to twenty years.

Before joining Grattan, Aruna worked for the NSW Treasury for over five years, where she headed up analysis and advice across the macroeconomy division, state-owned corporations, state and commonwealth revenue, and health and justice reform. She led the 2021 NSW Intergenerational Report and led the economic analysis for the 2022 Women’s Economic Opportunities Review.

Aruna previously practised as a senior lawyer in the Civil Regulation group at the Australian Government Solicitor and then as a barrister at 12 Wentworth Selborne Chambers, specialising in cases involving complex economic evidence. Prior to returning to Australia 11 years ago, Aruna worked at McKinsey & Company’s London office with a range of private and public sector clients.

She holds arts (economics and politics) and law degrees from UNSW, where she graduated with the University Medal in Law, and two masters degrees in law and a doctorate from the University of Oxford, where she studied as a Menzies Scholar and John Monash Scholar. She has published internationally in the field of constitutional design and human rights and was appointed in 2015 as external legal adviser to the Parliamentary Joint Committee of Human Rights.