Politics Now
Cut the public service? Productivity commission says think again || Insiders: On Background
Mar 21, 2025
Danielle Wood, Chair of the Productivity Commission, shares her expertise on enhancing Australian living standards and economic productivity. She discusses pressing issues like the recent decline in productivity and its effects on wages. Wood also critiques the potential cuts to the public service, questioning their economic justification. Additionally, she delves into the importance of technology and education in overcoming productivity challenges and explores innovative models like hybrid work environments.
21:31
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Quick takeaways
- Improving Australia's productivity is essential for enhancing living standards, which have been declining despite the need for strategic reform.
- The care economy presents both challenges and opportunities for growth, requiring new technologies and stronger regulatory frameworks to ensure quality.
Deep dives
Understanding Productivity and Its Importance
Productivity measures how effectively a country uses its resources to produce goods and services, and it is crucial for driving living standards over time. Australia has experienced a decline in productivity, with a notable drop of 1.2% in the last year alone, marking a continuation of low growth rates that have persisted for over a decade. As productivity influences wages and living standards, improving it is essential for future economic progress. Addressing the complexities in the housing market, such as excessive regulations that complicate construction, is one suggested strategy to enhance productivity.
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