Calls for government to cut 'red tape’ amid drop in productivity
Published May 28, 2023, 2:20 p.m. by Liam Bradley
The federal government has been urged to cut red tape amid a drop in productivity.
The latest figures from the Australian Bureau of Statistics (ABS) show that productivity fell by 0.5% in the March quarter.
The drop was driven by a fall in hours worked, which outweighed a small increase in output.
The Opposition says the figures are a "damning indictment" of the government's economic management.
"These figures show that the government is not doing enough to boost productivity," Opposition Leader Bill Shorten said.
"The government needs to cut red tape, invest in infrastructure and give businesses the certainty they need to invest and create jobs."
But Treasurer Scott Morrison says the figures are "not as bad as first feared".
"There are some signs that the economy is starting to improve," Mr Morrison said.
"We are seeing jobs growth, we are seeing exports growing, and we are seeing business confidence starting to improve."
The ABS also released figures on Thursday showing that the number of people employed fell by 3,700 in April.
The unemployment rate remained at 5.7%.
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let's go to inflation our rate is still
too high it's seven percent remember the
target band of the RBA wants to get to
is between two and three so a long way
to come down before we start to ease up
on interest rates here was the governor
Phil low talking about this very point
last night
the level of output
um produced per hour work in Australia
Today is the same as it was three years
ago
no growth in labor productivity over
three years
If That Remains the case then the
challenges that we face at the Central
Bank going to be more difficult to deal
with
now it is typically bookish way is
making a point unless we lift
productivity we're not going to do
anything much with inflation and then
Daniel the point there made by Patrick
you know we're basically turning into
job snobs we're too proud to do some of
the things that we used to do I would
rather sit on the Dole how are we going
to get productivity moving with those
sorts of unemployment numbers and the
fact you can hardly get people back into
an office anymore there's a couple of
key things Peter the first is to cut red
tape and deregulation this is exactly
what happened in the Abbott government
as you know in 2013 and 14 big red tape
reduction agenda billions of dollars
knocked off in the cost there so that's
how you get businesses going and
increasing productivity just to build on
a point that Patrick made in terms of a
specific air of red tape we need to be
looking at which is all of the financial
costs and disincentives and red tape on
pension as veterans and students who
wanted to get into the job market the
government have said they're going to
begin bring in almost three quarters of
a a million more migrants into Australia
to take up the jobs when they're not
doing anything meaningful about the
massive penalties on Australians who
want to get into work so this is a big
area of public policy failing I think on
behalf of the federal government and
they need to be doing more to to cut
those red tape and tax barriers on on
Australians who want to get into jobs
