Politicians do not have a "monopoly on wisdom" so a summit bringing together some of the brightest Australians will help forge the way forward for the country, Treasurer Wayne Swan says.
One thousand of the "best and brightest" will be invited to Parliament House for the Australia 2020 summit in late April to look for answers across 10 specific areas.
The topics to be covered will be the economy, economic infrastructure, sustainability, rural industry, health, social inclusion, indigenous people and services, the arts, governance and national security.
Mr Swan says the new Labor government has plenty of ideas but the community will have more.
"We don't operate on the basis that politicians or political parties have the best ideas," Mr Swan told the Nine Network.
"There's plenty of good ideas out there - we don't have a monopoly on wisdom and we do want to involve the community in a broader conversation about where this country is heading in the long-term not just the short-term."
Mr Swan says the 2020 summit will bring new ideas forward in an innovative way.
"I think this is a breath of fresh air - it's just what the country has been looking for," he said.
"We've got a leader now who wants to tackle long-term challenges and he wants to involve the community in the process.
"I think it's terrific and I think it will be welcomed out there in the community."
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