Latest news with #DanielleWood
The Age
22-05-2025
- Business
- The Age
Working less could be the answer to one of our biggest problems
Sure, a handful of individual geniuses helped bring these things to life, but a majority of workers are limited in their ability to do things more efficiently, often by the tools, rules and conditions they're forced to work with. One suggestion made by the productivity boffins in their latest push (triggered by Treasurer Jim Chalmers' request for reform recommendations) in the economy-wide brainstorm on how to overcome the productivity road block, is shaking up the way companies are taxed. Loading Specifically, the commission is looking at ways to prod businesses to invest more (something that has been lacking in Australia for quite a few years). Specifically, it will consider tax incentives for businesses to spend on things like better equipment, tools and technology – things which help workers to save time and produce more or better things without having to work harder. A barista, for example, who doesn't have to share a machine with their colleague, may be able to serve more coffees, and an accountant with access to better software provided by their company may be able to slash the time it takes to crunch numbers for their clients. Cutting the 30 per cent corporate tax rate (an option currently on the table according to Productivity Commission boss Danielle Wood), though, is probably not a good move unless there's a way to guarantee those big businesses won't just pocket the extra profit or pay it out to shareholders. While big businesses might be keen for such changes, they probably don't provide bang for our buck, and they come at a cost to the government's budget. It's probably also bad news if it gives big companies – which already dominate many sectors of the economy – more power, making it difficult for small and medium-sized businesses to challenge them and drive innovation. However, tax breaks for new investment which, in theory, should encourage firms to invest, seem less effective in Australia compared with many other countries, according to the Reserve Bank. While big businesses might be keen for such changes, they probably don't provide bang for our buck, and they come at a cost to the government's budget. This makes it more difficult to achieve some of the commission's other reform priorities such as improving school student outcomes and upskilling the workforce. The better-educated we are, and the more we're able to build on our skills, the better we become at doing things. Under-resourcing of schools has been a well-documented issue – and probably a key factor behind Australia's lagging performance academically. It's also something the government will struggle to improve if its budget is tight. Cutting red tape is another area of reform being examined by the commission. This is a good thing – especially when it comes to the net-zero transformation. It's clear that climate change and the increased prevalence of natural disasters will hamper our ability to work. And without making it easier for Australian businesses to transition to cleaner energy, we'll be left behind in the global shift, and fail to act on a hugely promising area of growth. Speeding up approvals for new energy infrastructure is a good example from the commission of how we can improve productivity. Instead of being bogged down by lengthy approval times, businesses can get on with investing in transformative projects aimed at harnessing some of our natural gifts: sunlight, wind, and other cleaner forms of energy. Loading And while they are just lofty aims for now, other focus areas including supporting government investment in preventing health problems (rather than waiting to treat them after they arise) and improving our uptake of digital technologies, should make us more productive by ensuring a healthy workforce and helping us harness the power of developments such as artificial intelligence. But these are all things we've known for some time. It's also about bosses and government departments listening to the lesser – but consequential – suggestions made by their employees. If you ask any worker what the most time-consuming and unnecessary parts of their job are, they'll almost always have an answer. Most teachers, for example, point to the growing and excessive administrative work they're required to do which reduces their ability to do what matters for students – and what will actually affect students' outcomes. Yet, at company and department level, there's usually little to no engagement with employees about what they think could be done better – and even when there is, a dismal amount is actually done about it. A key determinant of the Productivity Commission's success in improving productivity will be to compel top decision makers and bosses to act on all of these reform ideas. Paradoxically, legislating a shorter working week seems radical, but – as with the laws which brought in the eight-hour working day – could boost productivity. There have been multiple studies showing shorter work hours improve workers' wellbeing, focus and efficiency. Having less time to get things done often pushes us to lock in and get more done in a shorter amount of time. And if this isn't the case, shorter work hours will push bosses to implement the productivity-boosting changes required to support their workers to work more efficiently and improve productivity in the longer term.
Sydney Morning Herald
22-05-2025
- Business
- Sydney Morning Herald
Working less could be the answer to one of our biggest problems
Sure, a handful of individual geniuses helped bring these things to life, but a majority of workers are limited in their ability to do things more efficiently, often by the tools, rules and conditions they're forced to work with. One suggestion made by the productivity boffins in their latest push (triggered by Treasurer Jim Chalmers' request for reform recommendations) in the economy-wide brainstorm on how to overcome the productivity road block, is shaking up the way companies are taxed. Loading Specifically, the commission is looking at ways to prod businesses to invest more (something that has been lacking in Australia for quite a few years). Specifically, it will consider tax incentives for businesses to spend on things like better equipment, tools and technology – things which help workers to save time and produce more or better things without having to work harder. A barista, for example, who doesn't have to share a machine with their colleague, may be able to serve more coffees, and an accountant with access to better software provided by their company may be able to slash the time it takes to crunch numbers for their clients. Cutting the 30 per cent corporate tax rate (an option currently on the table according to Productivity Commission boss Danielle Wood), though, is probably not a good move unless there's a way to guarantee those big businesses won't just pocket the extra profit or pay it out to shareholders. While big businesses might be keen for such changes, they probably don't provide bang for our buck, and they come at a cost to the government's budget. It's probably also bad news if it gives big companies – which already dominate many sectors of the economy – more power, making it difficult for small and medium-sized businesses to challenge them and drive innovation. However, tax breaks for new investment which, in theory, should encourage firms to invest, seem less effective in Australia compared with many other countries, according to the Reserve Bank. While big businesses might be keen for such changes, they probably don't provide bang for our buck, and they come at a cost to the government's budget. This makes it more difficult to achieve some of the commission's other reform priorities such as improving school student outcomes and upskilling the workforce. The better-educated we are, and the more we're able to build on our skills, the better we become at doing things. Under-resourcing of schools has been a well-documented issue – and probably a key factor behind Australia's lagging performance academically. It's also something the government will struggle to improve if its budget is tight. Cutting red tape is another area of reform being examined by the commission. This is a good thing – especially when it comes to the net-zero transformation. It's clear that climate change and the increased prevalence of natural disasters will hamper our ability to work. And without making it easier for Australian businesses to transition to cleaner energy, we'll be left behind in the global shift, and fail to act on a hugely promising area of growth. Speeding up approvals for new energy infrastructure is a good example from the commission of how we can improve productivity. Instead of being bogged down by lengthy approval times, businesses can get on with investing in transformative projects aimed at harnessing some of our natural gifts: sunlight, wind, and other cleaner forms of energy. Loading And while they are just lofty aims for now, other focus areas including supporting government investment in preventing health problems (rather than waiting to treat them after they arise) and improving our uptake of digital technologies, should make us more productive by ensuring a healthy workforce and helping us harness the power of developments such as artificial intelligence. But these are all things we've known for some time. It's also about bosses and government departments listening to the lesser – but consequential – suggestions made by their employees. If you ask any worker what the most time-consuming and unnecessary parts of their job are, they'll almost always have an answer. Most teachers, for example, point to the growing and excessive administrative work they're required to do which reduces their ability to do what matters for students – and what will actually affect students' outcomes. Yet, at company and department level, there's usually little to no engagement with employees about what they think could be done better – and even when there is, a dismal amount is actually done about it. A key determinant of the Productivity Commission's success in improving productivity will be to compel top decision makers and bosses to act on all of these reform ideas. Paradoxically, legislating a shorter working week seems radical, but – as with the laws which brought in the eight-hour working day – could boost productivity. There have been multiple studies showing shorter work hours improve workers' wellbeing, focus and efficiency. Having less time to get things done often pushes us to lock in and get more done in a shorter amount of time. And if this isn't the case, shorter work hours will push bosses to implement the productivity-boosting changes required to support their workers to work more efficiently and improve productivity in the longer term.
News.com.au
19-05-2025
- Business
- News.com.au
‘Ripe for reform': Productivity Commission tackles trades workforce issues
Australia's Productivity Commission Head Danielle Wood says issues specific to the long-term mobility of the trades workforce are 'ripe for reform'. 'This has been a very long-term agenda, but it is sort of mad that you have a natural disaster in Queensland, and someone just south of the border in New South Wales can't go and help and work there,' Ms Wood told Sky News host Ross Greenwood. 'And obviously bigger issue is the kind of long-term mobility of the trades workforce. 'We think those are areas that are ripe for reform.'
West Australian
19-05-2025
- Business
- West Australian
Renewables, AI rules top productivity reform wishlist
Regulating the reckless use of artificial intelligence, speeding up approvals for renewable energy projects, and changing privacy and corporate tax laws will be targeted in a push to boost the Australian economy. The Productivity Commission named 15 areas for urgent reform on Monday as part of a nationwide consultation probing ways to overcome a decade-long productivity slump. Artificial intelligence experts welcomed the commission's call for change, saying local businesses were holding back their investments while waiting for the government to issue rules for AI use. The announcement also comes after the federal minister in charge of issuing AI regulations, Ed Husic, was replaced in a government reshuffle. The Productivity Commission will seek public input across five categories, ranging from economic changes such as corporate tax reform and business regulation to investments in education, technology, and the cost and speed of rolling out renewable energy projects. Reforms in the 15 areas identified by the commission could help boost living standards, chair Danielle Wood said, after a decade of economic stagnation. 'Productivity growth isn't about working harder or about having more stuff - it's about making the most of what we have, the skills and experience of our workforce, new technologies and our resources,' she said. 'It's about making it easier for businesses to harness new technologies like generative AI.' The Tech Council of Australia predicted AI could create up to 200,000 jobs by 2030, but University of NSW AI Institute chief scientist Toby Walsh said a lack of clear rules had left many organisations wary of investment. 'I hear from a lot of business people about uncertainty because the government's been dragging its feet on supporting and regulating AI,' he told AAP. 'Many of them are reluctant to invest and start projects in case they find they're on the wrong side of whatever regulation is coming up.' A Senate inquiry into adopting AI issued recommendations in November, and a public consultation into mandatory guardrails for its high-risk use closed in October. But the minister previously in charge of AI rules, Mr Husic, has been replaced following the election, and no firm commitments have followed. Global legal approaches to AI have also changed this year following the removal of many restrictions in the US, Professor Walsh said, and more countries were opting for rules that allowed businesses to experiment. 'If it were just a change of minister, all the preparatory work had been done and it would have been fruitful for where we were going to end up, but it's not clear that's the case,' he said. 'The government could be looking for a lighter touch.' The Productivity Consultation will close on June 6, with interim findings expected to be released in July and August.
Bloomberg
18-05-2025
- Business
- Bloomberg
Australia Productivity Growth at 60-Year Low as Reforms Selected
Australia's Productivity Commission has identified 15 priority reforms to examine in the course of five inquiries it's conducting for the government to try to boost economic efficiency and raise living standards. Productivity growth is at its 'lowest ebb in 60 years,' said Danielle Wood, chair of the commission, highlighting the urgent need to tackle the issue. Australia's long economic expansion has dulled enthusiasm for politically risky change, leading to calls for a renewed reform agenda as the economy begins to sputter.
