Latest news with #ProductivitySummit
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
This roundtable could have been an email
Federal Treasury has let the cat out of the bag: the erstwhile Productivity Summit, now Economic Reform Roundtable, is the kind of meeting which could have been an email. In a leaked document, the department recommended a set of outcomes for the roundtable, which was – supposedly – to be informed by the 500-odd pages of research conducted by the Productivity Commission covering five pillars laid out by Treasurer Jim Chalmers last year. Spoiler: the recommendations are only tangentially related to those documents, which have taken an army of policy minds at a purpose-built organisation six months to prepare. That's not just inefficient – it's a working case of the opposite of productivity. In fact, the whole process increasingly resembles a dramatisation of the CIA's 1944 Simple Sabotage Field Manual. To disrupt the effectiveness of organisations and conferences, the spy manual suggests a saboteur gum up progress by insisting on doing everything through 'channels' and 'never permit short-cuts to be taken in order to expedite decisions'. Consider that box ticked. Loading The roundtable is certainly not a shortcut. Especially given the fact that the roundtable attendee list is broad and many are coming armed with their own policy proposals, to complement the work of the Productivity Commission. The CIA advised saboteurs to 'make speeches', specifically, 'talk as frequently as possible and at great length'. Given Treasury's recommendations are, at least as reported, conspicuously limited, it's already clear there'll be a lot more talking than listening. The Business Council of Australia has flagged that it will be 'bringing constructive ideas' to the roundtable, which 'will assist in identifying policies that can increase investment across the economy through red tape reduction, faster approvals on major projects, future industries' growth, research and innovation, harnessing AI and tax reform'. Laudable stuff. But the advocacy body and its members tend to spend more time talking to business forums than selling their importance to the wider public. The timorous prime minister and his pre-chastened treasurer have no incentive to invest any political capital in putting them into practice. Predictably, big businesses will leave the roundtable lamenting a 'lack of political will' and go back to individually shaping regulation for their personal comfort. It is telling that big businesses were happier to donate to the campaign for an Indigenous Voice to parliament, cosying up to the government in the process, than they are to spend a bit of cash selling the public on a more competitive and productive Australia. The Australian Council of Trade Unions will have four representatives at the roundtable – a super-majority of three more than any other organisation represented. It has decided that this summit is the perfect opportunity to campaign on a four-day work week for the same pay. At least the peak body is out selling its proposal – though selling the idea of free money really doesn't take much skill. Four days on full pay would, say the ACTU, be made possible by implementing technological advances, like AI. Never one to shy away from irony, the union peak is simultaneously seeking to stymie the implementation of AI because it fears it would result in job losses. But then, as head honcho Sally McManus famously asserted in 2019, if you don't like laws, it's OK to break them. What are a couple of pesky laws of economics to a unionist armed with a populist proposal? The Australian Council of Social Service will be there to demand workers and savers get taxed more, of course. And the small business representative body will be there for decorative purposes, having never been a focus of an Albanese government which prefers its stakeholders large enough to be unionised. Opposition Treasury spokesman Ted O'Brien also has a seat, but seems increasingly perplexed by the process.
The Age
3 days ago
- Business
- The Age
This roundtable could have been an email
Federal Treasury has let the cat out of the bag: the erstwhile Productivity Summit, now Economic Reform Roundtable, is the kind of meeting which could have been an email. In a leaked document, the department recommended a set of outcomes for the roundtable, which was – supposedly – to be informed by the 500-odd pages of research conducted by the Productivity Commission covering five pillars laid out by Treasurer Jim Chalmers last year. Spoiler: the recommendations are only tangentially related to those documents, which have taken an army of policy minds at a purpose-built organisation six months to prepare. That's not just inefficient – it's a working case of the opposite of productivity. In fact, the whole process increasingly resembles a dramatisation of the CIA's 1944 Simple Sabotage Field Manual. To disrupt the effectiveness of organisations and conferences, the spy manual suggests a saboteur gum up progress by insisting on doing everything through 'channels' and 'never permit short-cuts to be taken in order to expedite decisions'. Consider that box ticked. Loading The roundtable is certainly not a shortcut. Especially given the fact that the roundtable attendee list is broad and many are coming armed with their own policy proposals, to complement the work of the Productivity Commission. The CIA advised saboteurs to 'make speeches', specifically, 'talk as frequently as possible and at great length'. Given Treasury's recommendations are, at least as reported, conspicuously limited, it's already clear there'll be a lot more talking than listening. The Business Council of Australia has flagged that it will be 'bringing constructive ideas' to the roundtable, which 'will assist in identifying policies that can increase investment across the economy through red tape reduction, faster approvals on major projects, future industries' growth, research and innovation, harnessing AI and tax reform'. Laudable stuff. But the advocacy body and its members tend to spend more time talking to business forums than selling their importance to the wider public. The timorous prime minister and his pre-chastened treasurer have no incentive to invest any political capital in putting them into practice. Predictably, big businesses will leave the roundtable lamenting a 'lack of political will' and go back to individually shaping regulation for their personal comfort. It is telling that big businesses were happier to donate to the campaign for an Indigenous Voice to parliament, cosying up to the government in the process, than they are to spend a bit of cash selling the public on a more competitive and productive Australia. The Australian Council of Trade Unions will have four representatives at the roundtable – a super-majority of three more than any other organisation represented. It has decided that this summit is the perfect opportunity to campaign on a four-day work week for the same pay. At least the peak body is out selling its proposal – though selling the idea of free money really doesn't take much skill. Four days on full pay would, say the ACTU, be made possible by implementing technological advances, like AI. Never one to shy away from irony, the union peak is simultaneously seeking to stymie the implementation of AI because it fears it would result in job losses. But then, as head honcho Sally McManus famously asserted in 2019, if you don't like laws, it's OK to break them. What are a couple of pesky laws of economics to a unionist armed with a populist proposal? The Australian Council of Social Service will be there to demand workers and savers get taxed more, of course. And the small business representative body will be there for decorative purposes, having never been a focus of an Albanese government which prefers its stakeholders large enough to be unionised. Opposition Treasury spokesman Ted O'Brien also has a seat, but seems increasingly perplexed by the process.
The Age
18-06-2025
- Business
- The Age
Treasurer opens the door to fresh tax cuts
Fresh tax cuts could be on the table at the Albanese government's August reform summit that Treasurer Jim Chalmers has signalled he will use as a springboard to go further than the policies Labor took to the last election. Chalmers used a speech to the National Press Club on Wednesday to flag Labor would go beyond the commitments it made before the May 3 election, which included a 2 per cent tax cut, as part of a productivity overhaul but stopped short of endorsing specific new policies. Tax reform, the Treasurer said on Tuesday, should lift productivity, simplify the system and improve intergenerational equity as well as 'lowering the personal tax burden and increasing the rewards from work.' Labor used a summit in 2022 to build support for a raft of union-friendly industrial relations changes and it has scheduled a three-day Productivity Summit for August where it will assemble industry, economic, social and political leaders to plan fresh reform. 'As the PM made clear here, delivering our commitments in housing and energy and across the board is the best place to start – but it's not the limit of our ambitions,' Chalmers said. 'They're a foundation not a destination.' 'We have a mandate to deliver the policies and plans we took to the election, and a duty to build on them.' At a press conference in Melbourne on Wednesday, Coalition finance spokesman James Paterson said the opposition acknowledged the system could be more efficient and was prepared to discuss tax reform as long as it did not increase rates. But he cautioned Chalmers could be planning to raise taxes instead. 'Jim Chalmers is like the arsonist pretending to be a firefighter turning up to put out the fires that he and the Albanese government themselves set in their first term,' Paterson said. Chalmers said that plans from the summit would have to be in the national interest, budget neutral or positive, specific and practical.
The Age
18-06-2025
- Business
- The Age
‘Foundation not a destination': Treasurer opens the door to fresh tax cuts
Fresh tax cuts could be on the table at the Albanese government's August reform summit that Treasurer Jim Chalmers has signalled he will use as a springboard to go further than the policies Labor took to the last election. Chalmers used a speech to the National Press Club on Wednesday to flag Labor would go beyond the commitments it made before the May 3 election, which included a 2 per cent tax cut, as part of a productivity overhaul but stopped short of endorsing specific new policies. Tax reform, the Treasurer said on Tuesday, should lift productivity, simplify the system and improve intergenerational equity as well as 'lowering the personal tax burden and increasing the rewards from work.' Labor used a summit in 2022 to build support for a raft of union-friendly industrial relations changes and it has scheduled a three-day Productivity Summit for August where it will assemble industry, economic, social and political leaders to plan fresh reform. 'As the PM made clear here, delivering our commitments in housing and energy and across the board is the best place to start – but it's not the limit of our ambitions,' Chalmers said. 'They're a foundation not a destination.' 'We have a mandate to deliver the policies and plans we took to the election, and a duty to build on them.' Coalition finance spokesman James Paterson earlier this month offered support for bipartisan 'holistic' reform of the nation's creaking tax system as long as it does not involve higher taxes. 'We're happy to talk to the government about tax reform. But we are not interested in increasing taxes, because I don't think that's what the Australian economy needs right now,' he said. He cautioned that plans from the summit would have to be in the national interest, budget neutral or positive, specific and practical.
Sydney Morning Herald
18-06-2025
- Business
- Sydney Morning Herald
‘Foundation not a destination': Treasurer opens the door to fresh tax cuts
Fresh tax cuts could be on the table at the Albanese government's August reform summit that Treasurer Jim Chalmers has signalled he will use as a springboard to go further than the policies Labor took to the last election. Chalmers used a speech to the National Press Club on Wednesday to flag Labor would go beyond the commitments it made before the May 3 election, which included a 2 per cent tax cut, as part of a productivity overhaul but stopped short of endorsing specific new policies. Tax reform, the Treasurer said on Tuesday, should lift productivity, simplify the system and improve intergenerational equity as well as 'lowering the personal tax burden and increasing the rewards from work.' Labor used a summit in 2022 to build support for a raft of union-friendly industrial relations changes and it has scheduled a three-day Productivity Summit for August where it will assemble industry, economic, social and political leaders to plan fresh reform. 'As the PM made clear here, delivering our commitments in housing and energy and across the board is the best place to start – but it's not the limit of our ambitions,' Chalmers said. 'They're a foundation not a destination.' 'We have a mandate to deliver the policies and plans we took to the election, and a duty to build on them.' Coalition finance spokesman James Paterson earlier this month offered support for bipartisan 'holistic' reform of the nation's creaking tax system as long as it does not involve higher taxes. 'We're happy to talk to the government about tax reform. But we are not interested in increasing taxes, because I don't think that's what the Australian economy needs right now,' he said. He cautioned that plans from the summit would have to be in the national interest, budget neutral or positive, specific and practical.
