Majority of Australians back boost to defence spending amid US pressure and security concerns
The majority of voters support lifting Australia's military budget, as former PM Scott Morrison and US officials push for a sharp increase in defence investment ahead of Anthony Albanese's expected meeting with Donald Trump.
The majority of Australians support an increase to the nation's military budget, amid demands from the United States for allies to lift defence spending to 3 per cent of GDP.
According to new analysis from News Corp's Lighthouse Consumer Sentiment Tracker, 57 per cent of voters said military spending should increase beyond its current level.
Eight per cent of people supported spending cuts and 35 per cent believed the status quo was sufficient.
The majority of respondents (39 per cent) also indicated a willingness to fund increased defence spending through higher taxes on high income earns and corporations.
Thirty-seven per cent were willing to fund spending through efficiency savings within government departments and 28 per cent through cuts to foreign aid or partnerships.
The data was based on a representative sample of nearly 5,000 respondents collected between April 1 and May 31.
The survey comes as pressure mounts from the United States for Australia to spend at least 3 per cent of GDP on defence.
The Albanese government has currently invested about 2 per cent of GDP, rising to 2.3 per cent by 2033.
US Defence Secretary Pete Hegseth recently called on Australia to lift defence spending to 3.5 per cent of GDP.
The appeal was made during a public meeting alongside Australian Defence Minister Richard Marles at the Shangri-La Dialogue in Singapore.
Prime Minister Anthony Albanese has not ruled out further spending, but maintains additional investment must be aligned with specific needs—not 'arbitrary targets'.
However, Defence Chief Admiral David Johnston told a defence summit on Wednesday that his department would likely ask for a funding boost in the next biennial review.
'The opportunity we have with the biennial cycle now is to keep coming back and reviewing the strategy,' he said.
'Looking at the opportunities or where the investments are required, putting the case to government to increase the defence expenditure where we believe it is needed.'
Admiral Johnston also expressed concern about the possibility of Australia waging war in the future on home soil, rather than overseas.
However, inside the government there has been a belief that they do not expect a direct military invasion of Australia by China.
Rather, insiders view strategic assets like submarines and long-range missiles as tools to protect critical trade routes, not to repel a land invasion. — ASPI (@ASPI_org) May 28, 2025
The defence issue is set to feature prominently at the G7 summit in Kananaskis, Canada between June 15 and 17, where Mr Albanese is expected to meet President Trump.
Former prime minister Scott Morrison has added his voice to calls for more robust military investment, reiterating the Coalition's support for a 3 per cent of GDP target.
'I'm on the record for some time now of supporting a 3 per cent target and that target obviously has to be filled out with the right capabilities,' Mr Morrison said.
'This is a common requirement that has been put forward across all Allies and partners, not just Australia.
'The significant change we're seeing in the security environment necessitates such a response.'
The independent defence and strategic policy think tank, Australian Strategic Policy Institute, recently called on the Albanese government to spend more.
ASPI Executive Director Justin Bassi told Sky News that the public deserves transparency on the country's strategic vulnerabilities.
'Unfortunately, the world has these threats that do impact Australia and to counter these threats we need to, unfortunately, spend more money in the area,' he said.
Mr Albanese publicly dismissed the think tank's recent report warning of a 'hollow' Australian Defence Force, calling ASPI's criticisms 'predictable'.
The Lighthouse Tracker data also revealed strong generational and political divides.
Seventy per cent of baby boomers support more defence spending, compared with 49 per cent of millennials and 47 per cent of Gen Z.
Coalition and One Nation voters were most supportive (69 per cent), while only 40 per cent of Greens voters backed increased funding.
Labor voters were more evenly split, with 52 per cent in favour.
Among potential funding sources, Coalition voters preferred cuts to climate programs (38 per cent), foreign aid (36 per cent), and the arts (30 per cent).
Labor and Greens voters favoured progressive tax reform, with 45 per cent calling for higher taxes on wealthy individuals and corporations.
Only 4 per cent of respondents were willing to consider diverting funds from Medicare, or 10 per cent from cuts to welfare or the NDIS.
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News.com.au
23 minutes ago
- News.com.au
Penny Wong spruiks PM's gift of the gab ahead of high stakes Trump meet
Foreign Minister Penny Wong has praised Anthony Albanese's gift of the gab ahead of the Prime Minister's first face-to-face with Donald Trump. NewsWire understands the two leaders are set to meet on the sidelines of the G7 in Canada starting later this week but a time has not been confirmed. With a tariff carve out and defence spending straining relations between Canberra and Washington, Mr Albanese has no shortage of uncomfortable talking points for the US President. But Senator Wong said on Wednesday Mr Albanese was 'pretty good at handling meetings'. 'He's had a lot of experience, not just as prime minister but as a senior minister for a very long time,' she told Nine. 'Look, we don't agree with the President Trump's administration on tariffs. 'We've made that clear. We think it's not consistent with our free trade agreement. 'We don't think it's in the interests of American consumers. 'We think it's an act of economic self-harm. We've made that clear publicly, consistently, and we will continue to do so.' Senator Wong refused to 'speculate' if bumping up Australian defence spending — which the US has demanded be hiked to 3.5 per cent of GDP — would be on the table. 'We'll always do what is required to keep Australians safe,' she said. 'We've invested more money in defence over the next few years, and also forward over the (next) ten.' Senator Wong added that the Albanese government was 'very aware of the circumstances Australia faces' and that building up ties with Pacific neighbours was key to the strategy. 'A great part of my job is to work with other countries because those relationships contribute to stability and security in our region, which is where stability, security and ultimately our prosperity come from,' she said.
The Advertiser
an hour ago
- The Advertiser
The key to ending racism? It's right here in these PMs' speeches
Time is the marker of everything. In a civic context, we use time to understand what policies, actions, and even words have changed our lives - for the better or worse, or not at all. This helps us find ways to make our futures safer, healthier, and more just. I want to find a way to a future free of racism. And, at this point in time, I can't help but think of the words of two prime ministers - in speeches delivered half a century apart. First, let's go back to this week in June 1975, when Australia enacted the Racial Discrimination Act (RDA). With the White Australia Policy only recently abolished, this was a landmark moment in our history. It was the first Commonwealth law that focused on human rights and discrimination, setting a new vision for Australian society that sought to shake off the racial segregation that had defined it. In a speech at the RDA's proclamation, then prime minister Gough Whitlam said our nation must "spell out in enduring form ... the principle that all Australians, whatever their colour, race or creed, are equal before the law and have the same basic rights and opportunities." But has Whitlam's aspiration to "entrench new attitudes ... in people's hearts and minds" been realised? The answer is yes and no. A legislative framework around racial equality has helped shine a spotlight on employers in workplace discrimination cases, provided remedy pathways for people who've experienced racial hatred, even invalidate laws that discriminated against First Nations peoples, such as the famous case of Mabo v Queensland. It also set a precedent for similar anti-discrimination laws around age, sex, and disability that were passed in the years that followed. Over the past 50 years, we have seen monumental progress in our society, and its shape has changed significantly. These are achievements to remember, to celebrate. But, sadly, racism remains entrenched in many parts of our society. Systems and institutions designed to serve us all are still infected by racist attitudes and practices in place well before the RDA's inception. Racism continues to affect everyday life. People are confronted with it through verbal attacks or left isolated by policies or practices that disadvantage them. This includes people with "foreign sounding" names being less likely to be selected for a job interview or having their work more scrutinised than colleagues; over-policing in some communities; and cultural biases within the medical system that can prevent people of colour receiving the same standards of care as everyone else. First Nations people still suffer the fundamental racism of a denial of self-determination. This has consistently been confirmed by consultation, research, and work led by advocacy groups. The work of the Australian Human Rights Commission confirms it too. There is no doubt that urgent reform is needed. And, half a century since Whitlam's address, a speech by another Prime Minister - our current one - touched on what I believe will help drive the solution. In his election victory speech last month, Anthony Albanese spoke of what he believed were the Australian values the majority of people had voted for. "For the strength," he said, "to show courage in adversity and kindness to those in need". Courage and kindness. For me, this has always been at the heart of who are - or who we should aspire to be. Reform takes courage. It takes kindness. Changing systems and institutions to eliminate racism requires our leaders to take courage. In November last year, I released the National Anti-Racism Framework, a roadmap for widespread government-led reform to defeat racism in 10 years. Its 63 recommendations take a whole-of-society approach to eliminating racism, across our legal, justice, health, education, media and arts sectors as well as for businesses. Courage and kindness could manifest in action by the government supporting these recommendations. This would see the principles of the RDA truly realised. But after 50 years, the RDA also needs an update. One of the framework's proposed changes is introducing a legal responsibility on employers to proactively prevent racism in the workplace. Similar to the positive duty under the Sex Discrimination Act, it means taking reasonable steps to eliminate racism, rather than only reacting once a complaint is made. Kindness is recognising privilege and the advantages bestowed by race. It means having difficult but respectful conversations, listening to uncomfortable truths without defensiveness, and finding ways to move forward together. Kindness is one of the greatest examples of strength one could show. In 50 years' time, when people look back at this moment, I hope it's seen as another landmark moment when we made an active commitment to implementing the framework to eliminate racism. The moment our leaders and community had the courage to choose dignity, respect and fairness - to ensure we are all truly equal with the same rights and opportunities. Time is the marker of everything. In a civic context, we use time to understand what policies, actions, and even words have changed our lives - for the better or worse, or not at all. This helps us find ways to make our futures safer, healthier, and more just. I want to find a way to a future free of racism. And, at this point in time, I can't help but think of the words of two prime ministers - in speeches delivered half a century apart. First, let's go back to this week in June 1975, when Australia enacted the Racial Discrimination Act (RDA). With the White Australia Policy only recently abolished, this was a landmark moment in our history. It was the first Commonwealth law that focused on human rights and discrimination, setting a new vision for Australian society that sought to shake off the racial segregation that had defined it. In a speech at the RDA's proclamation, then prime minister Gough Whitlam said our nation must "spell out in enduring form ... the principle that all Australians, whatever their colour, race or creed, are equal before the law and have the same basic rights and opportunities." But has Whitlam's aspiration to "entrench new attitudes ... in people's hearts and minds" been realised? The answer is yes and no. A legislative framework around racial equality has helped shine a spotlight on employers in workplace discrimination cases, provided remedy pathways for people who've experienced racial hatred, even invalidate laws that discriminated against First Nations peoples, such as the famous case of Mabo v Queensland. It also set a precedent for similar anti-discrimination laws around age, sex, and disability that were passed in the years that followed. Over the past 50 years, we have seen monumental progress in our society, and its shape has changed significantly. These are achievements to remember, to celebrate. But, sadly, racism remains entrenched in many parts of our society. Systems and institutions designed to serve us all are still infected by racist attitudes and practices in place well before the RDA's inception. Racism continues to affect everyday life. People are confronted with it through verbal attacks or left isolated by policies or practices that disadvantage them. This includes people with "foreign sounding" names being less likely to be selected for a job interview or having their work more scrutinised than colleagues; over-policing in some communities; and cultural biases within the medical system that can prevent people of colour receiving the same standards of care as everyone else. First Nations people still suffer the fundamental racism of a denial of self-determination. This has consistently been confirmed by consultation, research, and work led by advocacy groups. The work of the Australian Human Rights Commission confirms it too. There is no doubt that urgent reform is needed. And, half a century since Whitlam's address, a speech by another Prime Minister - our current one - touched on what I believe will help drive the solution. In his election victory speech last month, Anthony Albanese spoke of what he believed were the Australian values the majority of people had voted for. "For the strength," he said, "to show courage in adversity and kindness to those in need". Courage and kindness. For me, this has always been at the heart of who are - or who we should aspire to be. Reform takes courage. It takes kindness. Changing systems and institutions to eliminate racism requires our leaders to take courage. In November last year, I released the National Anti-Racism Framework, a roadmap for widespread government-led reform to defeat racism in 10 years. Its 63 recommendations take a whole-of-society approach to eliminating racism, across our legal, justice, health, education, media and arts sectors as well as for businesses. Courage and kindness could manifest in action by the government supporting these recommendations. This would see the principles of the RDA truly realised. But after 50 years, the RDA also needs an update. One of the framework's proposed changes is introducing a legal responsibility on employers to proactively prevent racism in the workplace. Similar to the positive duty under the Sex Discrimination Act, it means taking reasonable steps to eliminate racism, rather than only reacting once a complaint is made. Kindness is recognising privilege and the advantages bestowed by race. It means having difficult but respectful conversations, listening to uncomfortable truths without defensiveness, and finding ways to move forward together. Kindness is one of the greatest examples of strength one could show. In 50 years' time, when people look back at this moment, I hope it's seen as another landmark moment when we made an active commitment to implementing the framework to eliminate racism. The moment our leaders and community had the courage to choose dignity, respect and fairness - to ensure we are all truly equal with the same rights and opportunities. Time is the marker of everything. In a civic context, we use time to understand what policies, actions, and even words have changed our lives - for the better or worse, or not at all. This helps us find ways to make our futures safer, healthier, and more just. I want to find a way to a future free of racism. And, at this point in time, I can't help but think of the words of two prime ministers - in speeches delivered half a century apart. First, let's go back to this week in June 1975, when Australia enacted the Racial Discrimination Act (RDA). With the White Australia Policy only recently abolished, this was a landmark moment in our history. It was the first Commonwealth law that focused on human rights and discrimination, setting a new vision for Australian society that sought to shake off the racial segregation that had defined it. In a speech at the RDA's proclamation, then prime minister Gough Whitlam said our nation must "spell out in enduring form ... the principle that all Australians, whatever their colour, race or creed, are equal before the law and have the same basic rights and opportunities." But has Whitlam's aspiration to "entrench new attitudes ... in people's hearts and minds" been realised? The answer is yes and no. A legislative framework around racial equality has helped shine a spotlight on employers in workplace discrimination cases, provided remedy pathways for people who've experienced racial hatred, even invalidate laws that discriminated against First Nations peoples, such as the famous case of Mabo v Queensland. It also set a precedent for similar anti-discrimination laws around age, sex, and disability that were passed in the years that followed. Over the past 50 years, we have seen monumental progress in our society, and its shape has changed significantly. These are achievements to remember, to celebrate. But, sadly, racism remains entrenched in many parts of our society. Systems and institutions designed to serve us all are still infected by racist attitudes and practices in place well before the RDA's inception. Racism continues to affect everyday life. People are confronted with it through verbal attacks or left isolated by policies or practices that disadvantage them. This includes people with "foreign sounding" names being less likely to be selected for a job interview or having their work more scrutinised than colleagues; over-policing in some communities; and cultural biases within the medical system that can prevent people of colour receiving the same standards of care as everyone else. First Nations people still suffer the fundamental racism of a denial of self-determination. This has consistently been confirmed by consultation, research, and work led by advocacy groups. The work of the Australian Human Rights Commission confirms it too. There is no doubt that urgent reform is needed. And, half a century since Whitlam's address, a speech by another Prime Minister - our current one - touched on what I believe will help drive the solution. In his election victory speech last month, Anthony Albanese spoke of what he believed were the Australian values the majority of people had voted for. "For the strength," he said, "to show courage in adversity and kindness to those in need". Courage and kindness. For me, this has always been at the heart of who are - or who we should aspire to be. Reform takes courage. It takes kindness. Changing systems and institutions to eliminate racism requires our leaders to take courage. In November last year, I released the National Anti-Racism Framework, a roadmap for widespread government-led reform to defeat racism in 10 years. Its 63 recommendations take a whole-of-society approach to eliminating racism, across our legal, justice, health, education, media and arts sectors as well as for businesses. Courage and kindness could manifest in action by the government supporting these recommendations. This would see the principles of the RDA truly realised. But after 50 years, the RDA also needs an update. One of the framework's proposed changes is introducing a legal responsibility on employers to proactively prevent racism in the workplace. Similar to the positive duty under the Sex Discrimination Act, it means taking reasonable steps to eliminate racism, rather than only reacting once a complaint is made. Kindness is recognising privilege and the advantages bestowed by race. It means having difficult but respectful conversations, listening to uncomfortable truths without defensiveness, and finding ways to move forward together. Kindness is one of the greatest examples of strength one could show. In 50 years' time, when people look back at this moment, I hope it's seen as another landmark moment when we made an active commitment to implementing the framework to eliminate racism. The moment our leaders and community had the courage to choose dignity, respect and fairness - to ensure we are all truly equal with the same rights and opportunities. Time is the marker of everything. In a civic context, we use time to understand what policies, actions, and even words have changed our lives - for the better or worse, or not at all. This helps us find ways to make our futures safer, healthier, and more just. I want to find a way to a future free of racism. And, at this point in time, I can't help but think of the words of two prime ministers - in speeches delivered half a century apart. First, let's go back to this week in June 1975, when Australia enacted the Racial Discrimination Act (RDA). With the White Australia Policy only recently abolished, this was a landmark moment in our history. It was the first Commonwealth law that focused on human rights and discrimination, setting a new vision for Australian society that sought to shake off the racial segregation that had defined it. In a speech at the RDA's proclamation, then prime minister Gough Whitlam said our nation must "spell out in enduring form ... the principle that all Australians, whatever their colour, race or creed, are equal before the law and have the same basic rights and opportunities." But has Whitlam's aspiration to "entrench new attitudes ... in people's hearts and minds" been realised? The answer is yes and no. A legislative framework around racial equality has helped shine a spotlight on employers in workplace discrimination cases, provided remedy pathways for people who've experienced racial hatred, even invalidate laws that discriminated against First Nations peoples, such as the famous case of Mabo v Queensland. It also set a precedent for similar anti-discrimination laws around age, sex, and disability that were passed in the years that followed. Over the past 50 years, we have seen monumental progress in our society, and its shape has changed significantly. These are achievements to remember, to celebrate. But, sadly, racism remains entrenched in many parts of our society. Systems and institutions designed to serve us all are still infected by racist attitudes and practices in place well before the RDA's inception. Racism continues to affect everyday life. People are confronted with it through verbal attacks or left isolated by policies or practices that disadvantage them. This includes people with "foreign sounding" names being less likely to be selected for a job interview or having their work more scrutinised than colleagues; over-policing in some communities; and cultural biases within the medical system that can prevent people of colour receiving the same standards of care as everyone else. First Nations people still suffer the fundamental racism of a denial of self-determination. This has consistently been confirmed by consultation, research, and work led by advocacy groups. The work of the Australian Human Rights Commission confirms it too. There is no doubt that urgent reform is needed. And, half a century since Whitlam's address, a speech by another Prime Minister - our current one - touched on what I believe will help drive the solution. In his election victory speech last month, Anthony Albanese spoke of what he believed were the Australian values the majority of people had voted for. "For the strength," he said, "to show courage in adversity and kindness to those in need". Courage and kindness. For me, this has always been at the heart of who are - or who we should aspire to be. Reform takes courage. It takes kindness. Changing systems and institutions to eliminate racism requires our leaders to take courage. In November last year, I released the National Anti-Racism Framework, a roadmap for widespread government-led reform to defeat racism in 10 years. Its 63 recommendations take a whole-of-society approach to eliminating racism, across our legal, justice, health, education, media and arts sectors as well as for businesses. Courage and kindness could manifest in action by the government supporting these recommendations. This would see the principles of the RDA truly realised. But after 50 years, the RDA also needs an update. One of the framework's proposed changes is introducing a legal responsibility on employers to proactively prevent racism in the workplace. Similar to the positive duty under the Sex Discrimination Act, it means taking reasonable steps to eliminate racism, rather than only reacting once a complaint is made. Kindness is recognising privilege and the advantages bestowed by race. It means having difficult but respectful conversations, listening to uncomfortable truths without defensiveness, and finding ways to move forward together. Kindness is one of the greatest examples of strength one could show. In 50 years' time, when people look back at this moment, I hope it's seen as another landmark moment when we made an active commitment to implementing the framework to eliminate racism. The moment our leaders and community had the courage to choose dignity, respect and fairness - to ensure we are all truly equal with the same rights and opportunities.
The Advertiser
an hour ago
- The Advertiser
'Partial tick': coalition cautious on PM's summit idea
The federal opposition has given the government a partial tick over its upcoming productivity summit, saying that at least Labor recognises there is a problem. Prime Minister Anthony Albanese announced the plan on Tuesday, saying the gathering of business, union and other leaders in Canberra in August would focus on ways to lift economic output. "A round table. Yay!" shadow treasurer Ted O'Brien joked during an interview on Nine's Today program on Wednesday. "But look ... to be fair, at least they're recognising the problem ... so let's take that as a partial tick." Experts are concerned about Australia's lagging rate of productivity - a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism that previous federal government economic summits were too slanted, Mr Albanese said this roundtable would be broad-based. 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. 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. 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. Meanwhile, the World Bank has slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent. The downgrade was driven by higher US tariffs on foreign imports and heightened uncertainty posed a "significant headwind" for nearly all economies. The World Bank is the latest body to cut its growth forecast as a result of President Donald Trump's erratic trade policies. But it stopped short of forecasting a recession, despite predicting global economic growth this year would be the weakest outside of a recession since 2008. with Reuters The federal opposition has given the government a partial tick over its upcoming productivity summit, saying that at least Labor recognises there is a problem. Prime Minister Anthony Albanese announced the plan on Tuesday, saying the gathering of business, union and other leaders in Canberra in August would focus on ways to lift economic output. "A round table. Yay!" shadow treasurer Ted O'Brien joked during an interview on Nine's Today program on Wednesday. "But look ... to be fair, at least they're recognising the problem ... so let's take that as a partial tick." Experts are concerned about Australia's lagging rate of productivity - a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism that previous federal government economic summits were too slanted, Mr Albanese said this roundtable would be broad-based. 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. 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. 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. Meanwhile, the World Bank has slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent. The downgrade was driven by higher US tariffs on foreign imports and heightened uncertainty posed a "significant headwind" for nearly all economies. The World Bank is the latest body to cut its growth forecast as a result of President Donald Trump's erratic trade policies. But it stopped short of forecasting a recession, despite predicting global economic growth this year would be the weakest outside of a recession since 2008. with Reuters The federal opposition has given the government a partial tick over its upcoming productivity summit, saying that at least Labor recognises there is a problem. Prime Minister Anthony Albanese announced the plan on Tuesday, saying the gathering of business, union and other leaders in Canberra in August would focus on ways to lift economic output. "A round table. Yay!" shadow treasurer Ted O'Brien joked during an interview on Nine's Today program on Wednesday. "But look ... to be fair, at least they're recognising the problem ... so let's take that as a partial tick." Experts are concerned about Australia's lagging rate of productivity - a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism that previous federal government economic summits were too slanted, Mr Albanese said this roundtable would be broad-based. 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. 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. 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. Meanwhile, the World Bank has slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent. The downgrade was driven by higher US tariffs on foreign imports and heightened uncertainty posed a "significant headwind" for nearly all economies. The World Bank is the latest body to cut its growth forecast as a result of President Donald Trump's erratic trade policies. But it stopped short of forecasting a recession, despite predicting global economic growth this year would be the weakest outside of a recession since 2008. with Reuters The federal opposition has given the government a partial tick over its upcoming productivity summit, saying that at least Labor recognises there is a problem. Prime Minister Anthony Albanese announced the plan on Tuesday, saying the gathering of business, union and other leaders in Canberra in August would focus on ways to lift economic output. "A round table. Yay!" shadow treasurer Ted O'Brien joked during an interview on Nine's Today program on Wednesday. "But look ... to be fair, at least they're recognising the problem ... so let's take that as a partial tick." Experts are concerned about Australia's lagging rate of productivity - a key economic measure of efficiency and long-term driver of improved living standards. Despite criticism that previous federal government economic summits were too slanted, Mr Albanese said this roundtable would be broad-based. 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. 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. 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. Meanwhile, the World Bank has slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent. The downgrade was driven by higher US tariffs on foreign imports and heightened uncertainty posed a "significant headwind" for nearly all economies. The World Bank is the latest body to cut its growth forecast as a result of President Donald Trump's erratic trade policies. But it stopped short of forecasting a recession, despite predicting global economic growth this year would be the weakest outside of a recession since 2008. with Reuters
