The Standing Committee on Economics is appointed under Standing Order 215. It was appointed on 26 July 2022.

The Committee may inquire into and report on any matter referred to it by either the House or a Minister, including any pre-legislation proposal, bill, motion, petition, vote or expenditure, other financial matter, report or document.

Appointed under Standing Order 215d, the Committee consists of six government members, three opposition Members and one crossbench Member. Each House committee may have its membership supplemented by up to four members for a particular inquiry, with a maximum of two extra government and two extra opposition or crossbench Members. Supplementary members shall have the same participatory rights as other members, but may not vote.