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Older, bigger, slower growing, more diverse. Living standards at risk of going backwards. These were the key takeaways from the latest Federal Intergenerational Report (IGR), writes Dr Liz Allen. The intergenerational bargain or contract, which implicitly suggests that the country handed to each subsequent generation is the same, if not better, than the socioeconomic conditions enjoyed previously, has been eroded. Increasing or maintaining living standards can no longer be guaranteed. Australia’s dumb luck has run out.
In the annual IMD World Competitiveness Yearbook released last week, our overall worst result was in entrepreneurship, where Australia is ranked 61 out of 63 countries. Australia also dropped from number 20 to 41 in terms of workplace productivity. When it comes to Australian business efficacy we rate poorly in terms of remuneration and compensation, international experience, employee training, skilled labour and working hours. It is little wonder, therefore, that our businesses are struggling to access the skills they need, writes CEDA CEO Melinda Cilento.
Read more Opinion article April 2, 2022In an election year, it was always going to be hard for Treasurer Josh Frydenberg to resist focusing on Australia’s short-term problems ahead of the long-term challenges. Though this budget delivers immediate modest cost of living relief to many households, it fails to convincingly address how Australia will tackle its stubborn and growing fiscal gap, and languishing productivity performance.
Read more Opinion article April 21, 2015