July 22, 2024

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

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