Assistant Treasurer Stephen Jones says Australia today is in a “very different” set of circumstances compared to the 1980s, as the challenge is moving productivity after a decade of “woeful” increases.
“We’re in a very different set of circumstances to where we were in the ’80s where the industrial relations commission, it determined a national wage increase based on CPI increases, and that was that we’re in a very different world to there,” Mr Jones told Sky News Australia.
“Which is why we’re not concerned about the wage-price spiral that seems to be feeding into that narrative; we agree productivity is a challenge, and we’ve got to get it moving again after a decade of woeful productivity increases.”
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