“Zombie” firms on the brink of collapse are unlikely to be treated leniently by banks, with Productivity Commission chairman Michael Brennan.
are unlikely to be treated leniently by banks, with Productivity Commission chairman Michael Brennan, saying Australia’s well-capitalised financial sector won’t hesitate to pull the pin on impaired loans.former Labor trade minister Craig EmersonProductivity Commission chairman Michael Brennan said productivity policy needed to focus on non-market areas such as health, education, public administration, law and order, and defence.“There are two ways of seeing the zombie firm phenomenon.
“It also means that to the extent we wanted to achieve aggregate 1.2 per cent productivity growth, which is the Treasury long-term projection, you would need very dramatic productivity in the market sector. Mr Brennan warned that while the 60-year average of labour productivity growth in Australia stood at roughly 1.8 per cent, over the last decade it was 1.1 per cent.recommended 71 sweeping changes and warns the country’s recent low rates of productivity growth jeopardise future increases in real wages.
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