.

  • Written by Michelle Grattan, Professorial Fellow, University of Canberra

Anthony Albanese puts a “productivity project” at the centre of his economic agenda in the second of his “vision statements”, which seeks to further distance him from the Shorten era.

“Productivity is the key to economic growth, international competitiveness and, ultimately, rising living standards underpinned in large part by long-term, sustainable wage growth,” he says in an address to be delivered in Brisbane on Friday but released beforehand.

Albanese describes Australia as presently in a “productivity recession”.

“When Labor left office in 2013, annual productivity growth averaged 2.2%. Under the Coalition this rate has halved. In the last two quarters it has actually gone backwards.”

Albanese says he wants to pursue his “productivity project” in partnership with business, unions and civil society, but argues the focus should be much wider than just on industrial relations and work practices.

“I want to focus our productivity debate on managing the next wave of challenges.”


Read more: Unlocking Australia's productivity paradox. Why things aren't that super


These include increasing wages; population settlement and the management of cities and regions; climate change, energy and environmental sustainability; an ageing population, and entrenched intergenerational poverty.

“The priorities of our productivity renewal project will be to lift investment in infrastructure, lift business investment and invest in our people.”

He links the productivity agenda to Labor’s strong support for the superannuation guarantee’s legislated rise – which has become controversial - from its present 9.5% to 12%, saying an ALP government would partner with the private sector, including the superannuation industry, in investing in infrastructure.

The speech continues Albanese’s pitch to improve Labor’s relations with business. “I want to see business confidence restored and investment renewed,” he says.

One central theme of the speech highlights the importance of micro-economic reform. “I have long been a champion of micro-economic reform,” Albanese says.

“Labor’s productivity renewal project will restart the process of micro-economic reform and the forensic analysis of how economic activity is regulated and where changes have to be made”.

Lauding the Hawke-Keating record on micro-economic reform, Albanese says “through the sheer power of their actions, they reminded us all that there is a natural and central role for the state”.

“But we have now reached the limits of the Hawke-Keating reforms. And new challenges require new impetus.”


Read more: Labor looks to boost protections for workers in insecure jobs: Albanese


In the speech Albanese essentially paints himself as a fiscal conservative well removed from Bill Shorten’s approach of big spending and higher taxation.

He stresses the reform agenda must be complemented by sound fiscal policy.

“I want our economic framework to have a soft heart and a hard head,” he says. The speech is laced with references to his personal experience growing up in straitened circumstances.

“As the child of a single mother on the invalid pension, I appreciate the value of a dollar and the importance of managing money.

"And having grown up in public housing, I also know all too well the value and the big difference government assistance can make to the lives of struggling families.

"Prudence and mutual obligation are values I learned growing up and they are values that I will take to fiscal policy,” he says.

“Our fiscal priorities will be integrated with our long-term objectives to increase our productivity and, in turn, our living standards and social mobility,” he says, putting social mobility “at the heart of Labor’s mission”.

Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Authors: Michelle Grattan, Professorial Fellow, University of Canberra

Read more http://theconversation.com/albanese-promises-a-productivity-project-in-an-economic-vision-statement-harking-back-to-hawke-and-keating-127534

14 Surprisingly Easy Housekeeping Hacks That Will Impress Your Guests

Everyone wants to present a perfect house when guests come over. The problem is, no one also wants to spend the whole day scrubbing everything super clean. If you follow these smart hacks to prepare...

Giancarlo Stangherlin - avatar Giancarlo Stangherlin

Award winning, ASX-list data SIM card company promises BIG changes for travellers

FLEXIROAM’s attachable SIM card, FLEXIROAM X Microchip is shaking up the telecommunications industry, fundamentally changing the way travellers use data overseas.   According to Founder and CEO...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus

Friday essay: living with fire and facing our fears

The smouldering ruins of a child's bike lies amongst a property lost to bushfires in the Mid North Coast region of NSW last month. Darren Pateman/AAPIt is only mid-November but we have to walk early t...

Danielle Clode, Senior Research Fellow in Creative Writing, Flinders University - avatar Danielle Clode, Senior Research Fellow in Creative Writing, Flinders University

Explainer: why homicide rates in Australia are declining

Latest figures reveal homocides in Australia are at historic lows. AAP/James RossAccording to the latest figures, homicides in Australia are at historic lows and compare well against international tr...

Terry Goldsworthy, Associate Professor in Criminology, Bond University - avatar Terry Goldsworthy, Associate Professor in Criminology, Bond University

Making space: how designing hospitals for Indigenous people might benefit everyone

Sunshine Coast University Hospital uses evidence-based design to provide outside spaces with views that Indigenous people tell us they value. Architectus, Author providedWelcome to the next article in...

Timothy O'Rourke, Senior Lecturer, School of Architecture, The University of Queensland - avatar Timothy O'Rourke, Senior Lecturer, School of Architecture, The University of Queensland

Vital Signs: Australia's slipping student scores will lead to greater income inequality

While no test is perfect but the Programme for International Student Assessment rankings are pretty useful for understanding the skills young people are being equipped with. www.shutterstock.comThe la...

Richard Holden, Professor of Economics, UNSW - avatar Richard Holden, Professor of Economics, UNSW

We're using lasers and toaster-sized satellites to beam information faster through space

The electromagnetic spectrum we can access with current technologies is completely occupied. This means experts have to think of creative ways to meet our rocketing demands for data. NASA Johnson/Flic...

Gottfried Lechner, Associate Professor and Director of the Institute for Telecommunications Research, University of South Australia, University of South Australia - avatar Gottfried Lechner, Associate Professor and Director of the Institute for Telecommunications Research, University of South Australia, University of South Australia

Grattan on Friday: Angus Taylor's troubles go international, in brawl with Naomi Wolf

Morrison would rather live with a problem minister in a key post than give a scalp to Labor. Mick Tsikas/AAPScott Morrison said it with a straight face, and repetition for emphasis. “I’m v...

Michelle Grattan, Professorial Fellow, University of Canberra - avatar Michelle Grattan, Professorial Fellow, University of Canberra

Early medical abortion is legal across Australia but rural women often don't have access to it

Australian women can have an early medical termination – which involves taking two oral medications – up to the ninth week of pregnancy. Jonatán Becerra/UnsplashAround one in s...

Jane Tomnay, Assoc. Professor / Director of Centre for Excellence in Rural Sexual Health, University of Melbourne - avatar Jane Tomnay, Assoc. Professor / Director of Centre for Excellence in Rural Sexual Health, University of Melbourne

All hail apostrophes - the heavy lifters who 'point a sentence in the right direction'

Doing away with the apostrophe is not just the beginning of the end ... it's the end. www.shutterstock.comReports this week about the demise of the Apostrophe Protection Society may have been greatly...

Roslyn Petelin, Course coordinator, The University of Queensland - avatar Roslyn Petelin, Course coordinator, The University of Queensland

It's the 10-year anniversary of our climate policy abyss. But don't blame the Greens

In 2009, a Bob Brown-led Greens party voted against an emissions trading scheme – but they can't be blamed for what came after. Mick Tsikas/AAPFederal Labor this week commemorated a dubious anni...

Rebecca Pearse, Lecturer, Department of Political Economy, University of Sydney - avatar Rebecca Pearse, Lecturer, Department of Political Economy, University of Sydney

Morrison cuts a swathe through the public service, with five departmental heads gone

Scott Morrison has announced a dramatic overhaul of the federal public service, cutting the number of departments and creating several new mega ones, while removing five secretaries. The departments...

Michelle Grattan, Professorial Fellow, University of Canberra - avatar Michelle Grattan, Professorial Fellow, University of Canberra

Tick, tock... how stress speeds up your chromosomes' ageing clock

At a molecular level, stresses and strains can make your body clock break into a sprint. Lightspring/ShutterstockAgeing is an inevitability for all living organisms, and although we still don’t ...

Szymek Drobniak, DECRA Fellow, UNSW - avatar Szymek Drobniak, DECRA Fellow, UNSW

The government wants to privatise visa processing. Who will be held accountable when something goes wrong?

The Department of Home Affairs has begun taking steps to outsource its visa processing to private service providers. This move has sparked an important national debate on transparency, accountability ...

Marina Khan, PhD Candidate, Western Sydney University - avatar Marina Khan, PhD Candidate, Western Sydney University

Left-leaning Australians may look to New Zealand with envy, but Ardern still has much work to do

Jacinda Ardern created an indefinable aura of promise – but just as people fall in love, some have fallen out of love, too. AAP/Mick TsikasIn October 2017, 37-year-old Jacinda Ardern became prim...

Grant Duncan, Associate Professor for the School of People, Environment and Planning, Massey University - avatar Grant Duncan, Associate Professor for the School of People, Environment and Planning, Massey University

Scientists fear insect populations are shrinking. Here are six ways to help

Scientists need your help to protect Australia's insects and track their numbers. Joe Castro/AAPAre you planning a big garden clean-up this summer, or stocking up on fly spray to keep bugs at bay? Bef...

David Yeates, Director of the Australian National Insect Collection, CSIRO - avatar David Yeates, Director of the Australian National Insect Collection, CSIRO

Aquariums, meerkats and gaming screens: how hospital design supports children, young people and their families

This aquarium at the Royal Children's Hospital in Melbourne helps reframe hospitals as exciting hubs of activity with things to do and friends to meet. Shannon McGrath/Advanced Aquarium TechnologiessW...

Stephanie Kathleen Liddicoat, Lecturer, Architectural Design, Swinburne University of Technology - avatar Stephanie Kathleen Liddicoat, Lecturer, Architectural Design, Swinburne University of Technology

To stop a tech apocalypse we need ethics and the arts

If recent television shows are anything to go by, we’re a little concerned about the consequences of technological development. Dystopian narratives abound. Black Mirror projects the negative ...

Sara James, Senior Lecturer, Sociology, La Trobe University - avatar Sara James, Senior Lecturer, Sociology, La Trobe University

To restore public confidence in apartments, rewrite Australia's building codes

Compliance with the National Construction Code provides no guarantee that an apartment won't leak. ShutterstockA prestige apartment building in Sydney built by a well-known developer is undergoing a ...

Geoff Hanmer, Adjunct Lecturer in Architecture, UNSW - avatar Geoff Hanmer, Adjunct Lecturer in Architecture, UNSW

Sick and Tired of Your Dead End Job? Try Teaching!

Tired of the same old grind at the office? Want an opportunity to impact lives both in your community and around the world? Do you love to travel and have new experiences? Teaching English is the perfect job for you! All you need is a willingness to ...

News Company - avatar News Company

The Impact of an Aging Population in Australia

There’s an issue on the horizon that Australia needs to prepare for. The portion of elderly citizens that make up the country’s overall population is increasing, and we might not have the infrastructure in place to support this. Australians h...

News Company - avatar News Company

LifeStyle

Ways Love and Relationships Benefit Body and Mind

Being in a happy relationship is great. You always have someone to greet you when you come home ...

The Importance of Smiling: How You Can Smile More

Happiness is something we all strive for and is often just out of reach. Of course, it’s impos...

5 Things to Do On Your Wedding Morning

After months of meticulous planning, wedding mornings usually find the bride excited but stressed ...

How to Make Your Girlfriend’s Birthday Extra Special

Your girlfriend’s birthday is your opportunity to show her how much you care. But how exactly do...