It's a Morrison slug so awful that Dr Evil would be proud. Labor won't touch it
Its stated intent was that by doubling the student fees for arts, communications and social science degrees, hiking by 28 per cent the cost of law and business degrees and halving the fees for science and engineering, it would provide a price signal to shift prospective students into courses whose graduates were in higher job-market demand.
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University records show declining arts enrolments and increasing science and engineering enrolments were trends occurring before the changes were introduced. The review found the policy barely shifted a soul. While providing no discernible benefit to the national economy or higher education funding, it saddled arts students with debt disproportionate to their likely future earnings.
'The review finds that this deterrent approach did not work and is in fundamental conflict with the need to grow the number of people with higher education qualifications significantly to meet the nation's future skills needs,' the accord review concluded.
Despite this, Labor is not promising to immediately scrap the changes if re-elected.
Instead, the Albanese government is offering to wipe 20 per cent off all HECS debts, regardless of when you finished your degree, what you studied and how much you owe.
The federal opposition, for reasons that would take a Jerry Springer episode to interrogate, is having none of it. It insists that reducing the debt of people with university degrees, even those working in relatively low-paying jobs, is elitist.
Monash Business School professor of higher education policy Andrew Norton says unwinding the impact of the changes, both on the cost to students and funding for universities, requires complex, politically sensitive surgery. He notes that the structure of the policy, which he describes as 'conceptually, a very untidy package' makes it difficult to remove without unintended consequences.
If Labor is re-elected, this future task will fall to the Albanese government's proposed Australian Tertiary Education Commission. Norton is cautious about what to expect from a government commission but says it is only fair for students and graduates at the sharp end of the fee hikes to get some relief in the meantime.
Labor's approach to this fraught area of public policy is typically incremental and risk-averse. Nonetheless, it is difficult to see how a once-off offer to slice 20 per cent off government student loans can hurt its re-election prospects.
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At the start of this week, this masthead's elegantly understated chief political correspondent David Crowe reported a series of figures that should make Tehan and his fellow Morrison-era survivors blanch. They show that a clutch of seats the Coalition must win to have any chance of forming government – Kooyong, Chisholm, Menzies and Goldstein in Victoria, Ryan in Queensland and Werriwa in NSW – are in the top dozen electorates nationally for people with HECS debts.
In Kooyong, where Liberal candidate Amelia Hamer is trying to dislodge teal MP Monique Ryan, there are nearly 22,000 people under the age of 35 with HECS debts averaging $31,299. When you add parents or grandparents living in the electorate who don't want their kids lumbered with big debts at the start of their working lives, that is a sizeable chunk of voters.
In Tehan's seat of Wannon, an electorate that stretches from the western edge of Greater Geelong all the way to the South Australian border, there are 13,920 voters with a combined HECS debt of $324 million. In a local contest where independent candidate Alex Dyson is pushing the Liberals to the brink, Tehan is opposing a policy that would instantly wipe $64 million off the debts of his electors.
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'Options considered': state's snap election call on ice
Tasmania faces days of political uncertainty with a request by the state's embattled premier for a snap poll being considered by the governor. Jeremy Rockliff made the drive to Government House on Tuesday evening to meet with Governor Barbara Baker, five days after he lost the confidence of the parliament. "Following their conversation, Her Excellency is now taking the time necessary to give due consideration to all available options," Government House official secretary David Hughes said. "By the end of the week the premier will meet with Her Excellency again. Further statements will be made in due course." Mr Rockliff has refused to resign after losing Thursday's vote of no-confidence, putting the state on a seemingly unavoidable collision course with an election. It is not clear whether Ms Baker will ask the Liberals to find a new leader and premier, which would remove the need for a poll. Former senator Eric Abetz, Deputy Premier Guy Barnett and ex-deputy Michael Ferguson are among Liberal leadership options. Labor, which has just 10 seats, has ruled out forming a minority government in alliance with the five-seat Greens plus members of the crossbench. Tasmania is staring down the barrel of its fourth election in seven years. The Liberals were returned to power in minority in March 2024 with 14 of 35 lower-house seats. "I respect the need for her excellency to take the appropriate time to consider important matters of state," Mr Rockliff said in a statement. "I remain committed to serving the people of Tasmania." The no-confidence motion was put forward by Labor and supported by the Greens and three crossbench independent MPs. Labor said the motion against Mr Rockliff was necessary because of his financial "mismanagement" and poor handling of delayed and over-budget new Bass Strait ferries. Labor was ready to contest an election, MP Josh Willie told parliament. His party would enter a campaign without veteran MP and Speaker Michelle O'Byrne, who announced on Tuesday she would not run again. Ms O'Byrne, elected to state parliament in 2006, criticised parliament's dysfunction. "If minority government is the way of the future then it requires us all to behave differently," she told parliament. "We have to have the maturity to not do things just because we can. The events of the last week have proven that." Election battle lines have already been drawn, with the Liberals dropping a plan to investigate public asset sales and announcing former federal MP Bridget Archer would run in Bass. Liberal MP Felix Ellis said the party was "united" behind Mr Rockliff. A plan for a $945 million stadium at Hobart's Macquarie Point, a condition of the Tasmania Devils entering the AFL in 2028, is likely to be a major issue for potential voters. The project is backed by the Liberals and Labor but the Greens and several crossbenchers are opposed. Recent opinion polling showed 60 per cent of Tasmanians were also against the development. Tasmania faces days of political uncertainty with a request by the state's embattled premier for a snap poll being considered by the governor. Jeremy Rockliff made the drive to Government House on Tuesday evening to meet with Governor Barbara Baker, five days after he lost the confidence of the parliament. "Following their conversation, Her Excellency is now taking the time necessary to give due consideration to all available options," Government House official secretary David Hughes said. "By the end of the week the premier will meet with Her Excellency again. Further statements will be made in due course." Mr Rockliff has refused to resign after losing Thursday's vote of no-confidence, putting the state on a seemingly unavoidable collision course with an election. It is not clear whether Ms Baker will ask the Liberals to find a new leader and premier, which would remove the need for a poll. Former senator Eric Abetz, Deputy Premier Guy Barnett and ex-deputy Michael Ferguson are among Liberal leadership options. Labor, which has just 10 seats, has ruled out forming a minority government in alliance with the five-seat Greens plus members of the crossbench. Tasmania is staring down the barrel of its fourth election in seven years. The Liberals were returned to power in minority in March 2024 with 14 of 35 lower-house seats. "I respect the need for her excellency to take the appropriate time to consider important matters of state," Mr Rockliff said in a statement. "I remain committed to serving the people of Tasmania." The no-confidence motion was put forward by Labor and supported by the Greens and three crossbench independent MPs. Labor said the motion against Mr Rockliff was necessary because of his financial "mismanagement" and poor handling of delayed and over-budget new Bass Strait ferries. Labor was ready to contest an election, MP Josh Willie told parliament. His party would enter a campaign without veteran MP and Speaker Michelle O'Byrne, who announced on Tuesday she would not run again. Ms O'Byrne, elected to state parliament in 2006, criticised parliament's dysfunction. "If minority government is the way of the future then it requires us all to behave differently," she told parliament. "We have to have the maturity to not do things just because we can. The events of the last week have proven that." Election battle lines have already been drawn, with the Liberals dropping a plan to investigate public asset sales and announcing former federal MP Bridget Archer would run in Bass. Liberal MP Felix Ellis said the party was "united" behind Mr Rockliff. A plan for a $945 million stadium at Hobart's Macquarie Point, a condition of the Tasmania Devils entering the AFL in 2028, is likely to be a major issue for potential voters. The project is backed by the Liberals and Labor but the Greens and several crossbenchers are opposed. Recent opinion polling showed 60 per cent of Tasmanians were also against the development. Tasmania faces days of political uncertainty with a request by the state's embattled premier for a snap poll being considered by the governor. Jeremy Rockliff made the drive to Government House on Tuesday evening to meet with Governor Barbara Baker, five days after he lost the confidence of the parliament. "Following their conversation, Her Excellency is now taking the time necessary to give due consideration to all available options," Government House official secretary David Hughes said. "By the end of the week the premier will meet with Her Excellency again. Further statements will be made in due course." Mr Rockliff has refused to resign after losing Thursday's vote of no-confidence, putting the state on a seemingly unavoidable collision course with an election. It is not clear whether Ms Baker will ask the Liberals to find a new leader and premier, which would remove the need for a poll. Former senator Eric Abetz, Deputy Premier Guy Barnett and ex-deputy Michael Ferguson are among Liberal leadership options. Labor, which has just 10 seats, has ruled out forming a minority government in alliance with the five-seat Greens plus members of the crossbench. Tasmania is staring down the barrel of its fourth election in seven years. The Liberals were returned to power in minority in March 2024 with 14 of 35 lower-house seats. "I respect the need for her excellency to take the appropriate time to consider important matters of state," Mr Rockliff said in a statement. "I remain committed to serving the people of Tasmania." The no-confidence motion was put forward by Labor and supported by the Greens and three crossbench independent MPs. Labor said the motion against Mr Rockliff was necessary because of his financial "mismanagement" and poor handling of delayed and over-budget new Bass Strait ferries. Labor was ready to contest an election, MP Josh Willie told parliament. His party would enter a campaign without veteran MP and Speaker Michelle O'Byrne, who announced on Tuesday she would not run again. Ms O'Byrne, elected to state parliament in 2006, criticised parliament's dysfunction. "If minority government is the way of the future then it requires us all to behave differently," she told parliament. "We have to have the maturity to not do things just because we can. The events of the last week have proven that." Election battle lines have already been drawn, with the Liberals dropping a plan to investigate public asset sales and announcing former federal MP Bridget Archer would run in Bass. Liberal MP Felix Ellis said the party was "united" behind Mr Rockliff. A plan for a $945 million stadium at Hobart's Macquarie Point, a condition of the Tasmania Devils entering the AFL in 2028, is likely to be a major issue for potential voters. The project is backed by the Liberals and Labor but the Greens and several crossbenchers are opposed. Recent opinion polling showed 60 per cent of Tasmanians were also against the development. Tasmania faces days of political uncertainty with a request by the state's embattled premier for a snap poll being considered by the governor. Jeremy Rockliff made the drive to Government House on Tuesday evening to meet with Governor Barbara Baker, five days after he lost the confidence of the parliament. "Following their conversation, Her Excellency is now taking the time necessary to give due consideration to all available options," Government House official secretary David Hughes said. "By the end of the week the premier will meet with Her Excellency again. Further statements will be made in due course." Mr Rockliff has refused to resign after losing Thursday's vote of no-confidence, putting the state on a seemingly unavoidable collision course with an election. It is not clear whether Ms Baker will ask the Liberals to find a new leader and premier, which would remove the need for a poll. Former senator Eric Abetz, Deputy Premier Guy Barnett and ex-deputy Michael Ferguson are among Liberal leadership options. Labor, which has just 10 seats, has ruled out forming a minority government in alliance with the five-seat Greens plus members of the crossbench. Tasmania is staring down the barrel of its fourth election in seven years. The Liberals were returned to power in minority in March 2024 with 14 of 35 lower-house seats. "I respect the need for her excellency to take the appropriate time to consider important matters of state," Mr Rockliff said in a statement. "I remain committed to serving the people of Tasmania." The no-confidence motion was put forward by Labor and supported by the Greens and three crossbench independent MPs. Labor said the motion against Mr Rockliff was necessary because of his financial "mismanagement" and poor handling of delayed and over-budget new Bass Strait ferries. Labor was ready to contest an election, MP Josh Willie told parliament. His party would enter a campaign without veteran MP and Speaker Michelle O'Byrne, who announced on Tuesday she would not run again. Ms O'Byrne, elected to state parliament in 2006, criticised parliament's dysfunction. "If minority government is the way of the future then it requires us all to behave differently," she told parliament. "We have to have the maturity to not do things just because we can. The events of the last week have proven that." Election battle lines have already been drawn, with the Liberals dropping a plan to investigate public asset sales and announcing former federal MP Bridget Archer would run in Bass. Liberal MP Felix Ellis said the party was "united" behind Mr Rockliff. A plan for a $945 million stadium at Hobart's Macquarie Point, a condition of the Tasmania Devils entering the AFL in 2028, is likely to be a major issue for potential voters. The project is backed by the Liberals and Labor but the Greens and several crossbenchers are opposed. Recent opinion polling showed 60 per cent of Tasmanians were also against the development.
The Advertiser
an hour ago
- The Advertiser
Average home prices hit $1m with more growth to come
Australia's property market continues to strengthen and gain momentum as the value of the average home soars past the $1 million mark for the first time. The national mean dwelling price reached $1,002,500 in the March quarter, a 0.7 per cent increase from the previous three months, according to Australian Bureau of Statistics figures released on Tuesday. Figures from the ABS show the total value of the nation's residential dwellings rose by $130.7 billion to a staggering $11.4 trillion. "We're certainly not going to see the massive increases that we saw during COVID, but we do think house prices will continue to increase, particularly as interest rates are predicted to fall further," she told AAP. Prime Minister Anthony Albanese, speaking at the National Press Club on Tuesday, noted that regulation and red tape had made building and buying a home in Australia too hard. Mr Albanese said it was too complex and expensive to get a project off the ground, adding that Housing Minister Clare O'Neil had been tasked with reducing those barriers. "It is too hard and one of the areas is regulation," he told the National Press Club. He also backed a failed NSW project to redevelop Sydney's Rosehill Racecourse, describing the controversial proposal as "absolutely right". The proposal aimed to transform the 140-year-old track into a "mini-city" encompassing about 25,000 homes, but it was ultimately voted down by the racecourse owner's members. "That's the sort of thing that we're going to need to do. You can't deal with supply issues without having the courage to do things like that," Mr Albanese said. "(We) want to make sure that housing is fit for purpose and all of that but if we can cut through on some of the red tape, then that will reduce costs." According to the ABS, the increase in residential dwellings was fuelled by housing markets in Queensland, Western Australia and South Australia. While NSW remains Australia's most expensive property market with a median price of $1.25 million, Queensland is not far behind at $944,700. Though prices are rising, further interest rate cuts could slow the pace of increases compared to the same period last year. Data reveals the average price in the ACT went backwards, falling to $941,300, as the Northern Territory maintains the lowest mean price at $517,700. Eliza Owen, head of research at property analyst group Cotality, told AAP it was not a surprise the nation's property market continued to be pushed to record values. "(It comes) off the back of long-term constraint on housing supply, compounded by more recent factors like interest rate reductions, which increase access to finance," she said. Ms Owen noted the interest rate reduction earlier this year helped reinvigorate demand across the housing market on a fairly broad basis. While the average dwelling price has reached seven figures for the first time, Ms Owen said factors such as rate reductions had given markets like Sydney a "sugar hit", rather than triggering a large upswing like the robust growth seen in 2021. Australia's property market continues to strengthen and gain momentum as the value of the average home soars past the $1 million mark for the first time. The national mean dwelling price reached $1,002,500 in the March quarter, a 0.7 per cent increase from the previous three months, according to Australian Bureau of Statistics figures released on Tuesday. Figures from the ABS show the total value of the nation's residential dwellings rose by $130.7 billion to a staggering $11.4 trillion. "We're certainly not going to see the massive increases that we saw during COVID, but we do think house prices will continue to increase, particularly as interest rates are predicted to fall further," she told AAP. Prime Minister Anthony Albanese, speaking at the National Press Club on Tuesday, noted that regulation and red tape had made building and buying a home in Australia too hard. Mr Albanese said it was too complex and expensive to get a project off the ground, adding that Housing Minister Clare O'Neil had been tasked with reducing those barriers. "It is too hard and one of the areas is regulation," he told the National Press Club. He also backed a failed NSW project to redevelop Sydney's Rosehill Racecourse, describing the controversial proposal as "absolutely right". The proposal aimed to transform the 140-year-old track into a "mini-city" encompassing about 25,000 homes, but it was ultimately voted down by the racecourse owner's members. "That's the sort of thing that we're going to need to do. You can't deal with supply issues without having the courage to do things like that," Mr Albanese said. "(We) want to make sure that housing is fit for purpose and all of that but if we can cut through on some of the red tape, then that will reduce costs." According to the ABS, the increase in residential dwellings was fuelled by housing markets in Queensland, Western Australia and South Australia. While NSW remains Australia's most expensive property market with a median price of $1.25 million, Queensland is not far behind at $944,700. Though prices are rising, further interest rate cuts could slow the pace of increases compared to the same period last year. Data reveals the average price in the ACT went backwards, falling to $941,300, as the Northern Territory maintains the lowest mean price at $517,700. Eliza Owen, head of research at property analyst group Cotality, told AAP it was not a surprise the nation's property market continued to be pushed to record values. "(It comes) off the back of long-term constraint on housing supply, compounded by more recent factors like interest rate reductions, which increase access to finance," she said. Ms Owen noted the interest rate reduction earlier this year helped reinvigorate demand across the housing market on a fairly broad basis. While the average dwelling price has reached seven figures for the first time, Ms Owen said factors such as rate reductions had given markets like Sydney a "sugar hit", rather than triggering a large upswing like the robust growth seen in 2021. Australia's property market continues to strengthen and gain momentum as the value of the average home soars past the $1 million mark for the first time. The national mean dwelling price reached $1,002,500 in the March quarter, a 0.7 per cent increase from the previous three months, according to Australian Bureau of Statistics figures released on Tuesday. Figures from the ABS show the total value of the nation's residential dwellings rose by $130.7 billion to a staggering $11.4 trillion. "We're certainly not going to see the massive increases that we saw during COVID, but we do think house prices will continue to increase, particularly as interest rates are predicted to fall further," she told AAP. Prime Minister Anthony Albanese, speaking at the National Press Club on Tuesday, noted that regulation and red tape had made building and buying a home in Australia too hard. Mr Albanese said it was too complex and expensive to get a project off the ground, adding that Housing Minister Clare O'Neil had been tasked with reducing those barriers. "It is too hard and one of the areas is regulation," he told the National Press Club. He also backed a failed NSW project to redevelop Sydney's Rosehill Racecourse, describing the controversial proposal as "absolutely right". The proposal aimed to transform the 140-year-old track into a "mini-city" encompassing about 25,000 homes, but it was ultimately voted down by the racecourse owner's members. "That's the sort of thing that we're going to need to do. You can't deal with supply issues without having the courage to do things like that," Mr Albanese said. "(We) want to make sure that housing is fit for purpose and all of that but if we can cut through on some of the red tape, then that will reduce costs." According to the ABS, the increase in residential dwellings was fuelled by housing markets in Queensland, Western Australia and South Australia. While NSW remains Australia's most expensive property market with a median price of $1.25 million, Queensland is not far behind at $944,700. Though prices are rising, further interest rate cuts could slow the pace of increases compared to the same period last year. Data reveals the average price in the ACT went backwards, falling to $941,300, as the Northern Territory maintains the lowest mean price at $517,700. Eliza Owen, head of research at property analyst group Cotality, told AAP it was not a surprise the nation's property market continued to be pushed to record values. "(It comes) off the back of long-term constraint on housing supply, compounded by more recent factors like interest rate reductions, which increase access to finance," she said. Ms Owen noted the interest rate reduction earlier this year helped reinvigorate demand across the housing market on a fairly broad basis. While the average dwelling price has reached seven figures for the first time, Ms Owen said factors such as rate reductions had given markets like Sydney a "sugar hit", rather than triggering a large upswing like the robust growth seen in 2021. Australia's property market continues to strengthen and gain momentum as the value of the average home soars past the $1 million mark for the first time. The national mean dwelling price reached $1,002,500 in the March quarter, a 0.7 per cent increase from the previous three months, according to Australian Bureau of Statistics figures released on Tuesday. Figures from the ABS show the total value of the nation's residential dwellings rose by $130.7 billion to a staggering $11.4 trillion. "We're certainly not going to see the massive increases that we saw during COVID, but we do think house prices will continue to increase, particularly as interest rates are predicted to fall further," she told AAP. Prime Minister Anthony Albanese, speaking at the National Press Club on Tuesday, noted that regulation and red tape had made building and buying a home in Australia too hard. Mr Albanese said it was too complex and expensive to get a project off the ground, adding that Housing Minister Clare O'Neil had been tasked with reducing those barriers. "It is too hard and one of the areas is regulation," he told the National Press Club. He also backed a failed NSW project to redevelop Sydney's Rosehill Racecourse, describing the controversial proposal as "absolutely right". The proposal aimed to transform the 140-year-old track into a "mini-city" encompassing about 25,000 homes, but it was ultimately voted down by the racecourse owner's members. "That's the sort of thing that we're going to need to do. You can't deal with supply issues without having the courage to do things like that," Mr Albanese said. "(We) want to make sure that housing is fit for purpose and all of that but if we can cut through on some of the red tape, then that will reduce costs." According to the ABS, the increase in residential dwellings was fuelled by housing markets in Queensland, Western Australia and South Australia. While NSW remains Australia's most expensive property market with a median price of $1.25 million, Queensland is not far behind at $944,700. Though prices are rising, further interest rate cuts could slow the pace of increases compared to the same period last year. Data reveals the average price in the ACT went backwards, falling to $941,300, as the Northern Territory maintains the lowest mean price at $517,700. Eliza Owen, head of research at property analyst group Cotality, told AAP it was not a surprise the nation's property market continued to be pushed to record values. "(It comes) off the back of long-term constraint on housing supply, compounded by more recent factors like interest rate reductions, which increase access to finance," she said. Ms Owen noted the interest rate reduction earlier this year helped reinvigorate demand across the housing market on a fairly broad basis. While the average dwelling price has reached seven figures for the first time, Ms Owen said factors such as rate reductions had given markets like Sydney a "sugar hit", rather than triggering a large upswing like the robust growth seen in 2021.
The Advertiser
an hour ago
- The Advertiser
Economic summit aims to firm up drooping productivity
An economic summit on lifting lagging productivity rates can serve common interests for the business sector and unions, the prime minister says. Anthony Albanese has announced plans for a productivity roundtable in August in Canberra to shape the nation's economic growth. Experts have expressed concern about Australia's lagging rate of productivity, a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism previous economic summits were too slanted towards unions, Mr Albanese said outcomes from the roundtable had not been decided. He called for a mature discussion from all parties, noting it was in everyone's interest for productivity to improve. "We're a Labor government, we support unions existing ... but we will always respect both the role of business and the role of unions," he told the National Press Club on Tuesday. "There are common interests ... you don't get union members unless you've got successful employers. "It's the private sector that drives an economy. What the public sector should do is facilitate private sector activity and private sector investment." The Productivity Commissioner's most recent report showed labour productivity fell 0.1 per cent in the December quarter and dropped 1.2 per cent in the past year. The Business Council of Australia says productivity growth over the past decade has been the lowest in 60 years. Council chief executive Bran Black welcomed the roundtable, saying "lifting business investment is essential to boosting productivity, lifting real wages, creating jobs and ensuring more opportunity for more Australians". "We will continue to be very clear about policies that the business community believes will be counterproductive to improving productivity," he said. Mr Albanese said he wanted a boost to productivity, alongside other economic indicators as part of his second-term agenda. "We want to build an economy where growth, wages and productivity rise together," he said. "The starting point for our government is clear. Our plan for economic growth and productivity is about Australians earning more and keeping more of what they earn." ACTU secretary Sally McManus said working Australians must be at the centre of the roundtable. "We need to leave behind the idea that productivity is equated with cutting pay and making people work harder for less," she said. "We have a common interest in addressing the challenges we face and when we work together our country is at its best." Australian Chamber of Commerce and Industry chief executive Andrew McKellar said boosting productivity was essential for economic growth. "The business community looks forward to participating in the summit and contributing constructive and sensible ideas to address the problem," he said. Shadow treasurer Ted O'Brien said the roundtable could amount to nothing but a talkfest. "Anthony Albanese has actively sought to undermine productivity by abolishing structures to drive it," he said. "He also saddled the economy with thousands of new regulations in the last parliament. "If this change of heart by Labor is true, it will be akin to turning around the Titanic." The prime minister announced Jenny Wilkinson would become the first female Treasury secretary. Ms Wilkinson, who heads the Department of Finance, will replace Steven Kennedy, who will become the nation's most senior public servant as head of the Department of the Prime Minister and Cabinet. They will begin their new roles on Monday for five-year terms. An economic summit on lifting lagging productivity rates can serve common interests for the business sector and unions, the prime minister says. Anthony Albanese has announced plans for a productivity roundtable in August in Canberra to shape the nation's economic growth. Experts have expressed concern about Australia's lagging rate of productivity, a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism previous economic summits were too slanted towards unions, Mr Albanese said outcomes from the roundtable had not been decided. He called for a mature discussion from all parties, noting it was in everyone's interest for productivity to improve. "We're a Labor government, we support unions existing ... but we will always respect both the role of business and the role of unions," he told the National Press Club on Tuesday. "There are common interests ... you don't get union members unless you've got successful employers. "It's the private sector that drives an economy. What the public sector should do is facilitate private sector activity and private sector investment." The Productivity Commissioner's most recent report showed labour productivity fell 0.1 per cent in the December quarter and dropped 1.2 per cent in the past year. The Business Council of Australia says productivity growth over the past decade has been the lowest in 60 years. Council chief executive Bran Black welcomed the roundtable, saying "lifting business investment is essential to boosting productivity, lifting real wages, creating jobs and ensuring more opportunity for more Australians". "We will continue to be very clear about policies that the business community believes will be counterproductive to improving productivity," he said. Mr Albanese said he wanted a boost to productivity, alongside other economic indicators as part of his second-term agenda. "We want to build an economy where growth, wages and productivity rise together," he said. "The starting point for our government is clear. Our plan for economic growth and productivity is about Australians earning more and keeping more of what they earn." ACTU secretary Sally McManus said working Australians must be at the centre of the roundtable. "We need to leave behind the idea that productivity is equated with cutting pay and making people work harder for less," she said. "We have a common interest in addressing the challenges we face and when we work together our country is at its best." Australian Chamber of Commerce and Industry chief executive Andrew McKellar said boosting productivity was essential for economic growth. "The business community looks forward to participating in the summit and contributing constructive and sensible ideas to address the problem," he said. Shadow treasurer Ted O'Brien said the roundtable could amount to nothing but a talkfest. "Anthony Albanese has actively sought to undermine productivity by abolishing structures to drive it," he said. "He also saddled the economy with thousands of new regulations in the last parliament. "If this change of heart by Labor is true, it will be akin to turning around the Titanic." The prime minister announced Jenny Wilkinson would become the first female Treasury secretary. Ms Wilkinson, who heads the Department of Finance, will replace Steven Kennedy, who will become the nation's most senior public servant as head of the Department of the Prime Minister and Cabinet. They will begin their new roles on Monday for five-year terms. An economic summit on lifting lagging productivity rates can serve common interests for the business sector and unions, the prime minister says. Anthony Albanese has announced plans for a productivity roundtable in August in Canberra to shape the nation's economic growth. Experts have expressed concern about Australia's lagging rate of productivity, a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism previous economic summits were too slanted towards unions, Mr Albanese said outcomes from the roundtable had not been decided. He called for a mature discussion from all parties, noting it was in everyone's interest for productivity to improve. "We're a Labor government, we support unions existing ... but we will always respect both the role of business and the role of unions," he told the National Press Club on Tuesday. "There are common interests ... you don't get union members unless you've got successful employers. "It's the private sector that drives an economy. What the public sector should do is facilitate private sector activity and private sector investment." The Productivity Commissioner's most recent report showed labour productivity fell 0.1 per cent in the December quarter and dropped 1.2 per cent in the past year. The Business Council of Australia says productivity growth over the past decade has been the lowest in 60 years. Council chief executive Bran Black welcomed the roundtable, saying "lifting business investment is essential to boosting productivity, lifting real wages, creating jobs and ensuring more opportunity for more Australians". "We will continue to be very clear about policies that the business community believes will be counterproductive to improving productivity," he said. Mr Albanese said he wanted a boost to productivity, alongside other economic indicators as part of his second-term agenda. "We want to build an economy where growth, wages and productivity rise together," he said. "The starting point for our government is clear. Our plan for economic growth and productivity is about Australians earning more and keeping more of what they earn." ACTU secretary Sally McManus said working Australians must be at the centre of the roundtable. "We need to leave behind the idea that productivity is equated with cutting pay and making people work harder for less," she said. "We have a common interest in addressing the challenges we face and when we work together our country is at its best." Australian Chamber of Commerce and Industry chief executive Andrew McKellar said boosting productivity was essential for economic growth. "The business community looks forward to participating in the summit and contributing constructive and sensible ideas to address the problem," he said. Shadow treasurer Ted O'Brien said the roundtable could amount to nothing but a talkfest. "Anthony Albanese has actively sought to undermine productivity by abolishing structures to drive it," he said. "He also saddled the economy with thousands of new regulations in the last parliament. "If this change of heart by Labor is true, it will be akin to turning around the Titanic." The prime minister announced Jenny Wilkinson would become the first female Treasury secretary. Ms Wilkinson, who heads the Department of Finance, will replace Steven Kennedy, who will become the nation's most senior public servant as head of the Department of the Prime Minister and Cabinet. They will begin their new roles on Monday for five-year terms. An economic summit on lifting lagging productivity rates can serve common interests for the business sector and unions, the prime minister says. Anthony Albanese has announced plans for a productivity roundtable in August in Canberra to shape the nation's economic growth. Experts have expressed concern about Australia's lagging rate of productivity, a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism previous economic summits were too slanted towards unions, Mr Albanese said outcomes from the roundtable had not been decided. He called for a mature discussion from all parties, noting it was in everyone's interest for productivity to improve. "We're a Labor government, we support unions existing ... but we will always respect both the role of business and the role of unions," he told the National Press Club on Tuesday. "There are common interests ... you don't get union members unless you've got successful employers. "It's the private sector that drives an economy. What the public sector should do is facilitate private sector activity and private sector investment." The Productivity Commissioner's most recent report showed labour productivity fell 0.1 per cent in the December quarter and dropped 1.2 per cent in the past year. The Business Council of Australia says productivity growth over the past decade has been the lowest in 60 years. Council chief executive Bran Black welcomed the roundtable, saying "lifting business investment is essential to boosting productivity, lifting real wages, creating jobs and ensuring more opportunity for more Australians". "We will continue to be very clear about policies that the business community believes will be counterproductive to improving productivity," he said. Mr Albanese said he wanted a boost to productivity, alongside other economic indicators as part of his second-term agenda. "We want to build an economy where growth, wages and productivity rise together," he said. "The starting point for our government is clear. Our plan for economic growth and productivity is about Australians earning more and keeping more of what they earn." ACTU secretary Sally McManus said working Australians must be at the centre of the roundtable. "We need to leave behind the idea that productivity is equated with cutting pay and making people work harder for less," she said. "We have a common interest in addressing the challenges we face and when we work together our country is at its best." Australian Chamber of Commerce and Industry chief executive Andrew McKellar said boosting productivity was essential for economic growth. "The business community looks forward to participating in the summit and contributing constructive and sensible ideas to address the problem," he said. Shadow treasurer Ted O'Brien said the roundtable could amount to nothing but a talkfest. "Anthony Albanese has actively sought to undermine productivity by abolishing structures to drive it," he said. "He also saddled the economy with thousands of new regulations in the last parliament. "If this change of heart by Labor is true, it will be akin to turning around the Titanic." The prime minister announced Jenny Wilkinson would become the first female Treasury secretary. Ms Wilkinson, who heads the Department of Finance, will replace Steven Kennedy, who will become the nation's most senior public servant as head of the Department of the Prime Minister and Cabinet. They will begin their new roles on Monday for five-year terms.
