Australia’s Productivity Commission called on the federal government to improve tax and migration systems, remove import tariffs and secure net-zero carbon emissions at the lowest cost to boost stalling economic productivity. | Reuters
A view of the city skyline of Brisbane, the city expected to be announced as host for the 2032 Olympic Games, in Brisbane, Australia, July 4, 2021. REUTERS/Jaimi Joy/File photo
SYDNEY – Australia’s Productivity Commission called on the federal government on Friday to improve tax and migration systems, remove import tariffs and secure net-zero carbon emissions at the lowest cost to boost stalling economic productivity. The report titled “Advancing Prosperity” and produced once every five years, made 71 recommendations, while warning that the country’s low productivity growth, which has hit the slowest since the 1970s, would curtail long-term prosperity.“Lifting Australia’s productivity growth will involve a combination of economy-wide and structural reforms, in addition to targeted policies in particular sectors to push Australian industries closer to the global frontier,” said the report.
While acknowledging that productivity improvement in a services-driven economy is hard, the report urged the Labor government of Prime Minister Albanese to tax activities at a more even rate and scrap the skilled nomination list for migrant workers – a list of jobs that Australia critically needs filled but which can be slow to be updated.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FACT CHECK: The PH gov't is not abolishing the Commission on Human RightsFactCheck: The Commission on Human Rights can only be abolished by changing the provisions that created it in the 1987 Constitution. FactsFirstPH
Read more »
Suarez TKOs Aussie in Sydney, bags 4 regional belts | BusinessMirrorCHARLY SUAREZ poured it all in the 12th and final round to beat via technical knockout Paul Fleming before his home fans at the Kevin Betts Stadium in Sydney, Australia, on Wednesday. Suarez, a Rio de Janeiro Olympian, captured the International Boxing Organization super featherweight, International Boxing Federation intercontinental, World…
Read more »
Global turmoil makes Australian banks’ refinancing mountain a harder climbA A$300 billion ($201.21 billion) refinancing task for Australia’s biggest banks is about to get harder, say analysts, as appetite for new debt shrinks across global markets roiled by concerns about bank stability and liquidity. | Reuters
Read more »
RESULTS: March 2023 Licensure Examination for PhysiciansPRESS RELEASE: The Professional Regulation Commission (PRC) announces that 1,573 out of 2,887 passed the examination. Congratulations! 🎉
Read more »
Suarez brings home three regional titles with TKO win in AustraliaCEBU CITY, Philippines--- World-rated super featherweight contender Charly "King&039;s Warrior" Suarez shocked hometown boxer Paul "Showtime" Fleming via a 12th round
Read more »
Australia’s submarine push runs into neighbors’ worries | Ben Westcott / Bloomberg NewsAustralia has embarked on a diplomatic campaign to ease regional concerns over its acquisition of a fleet of nuclear submarines under the Aukus agreement, as Malaysia warned against potentially unleashing an “arms race” in the Asia-Pacific. Prime Minister Anthony Albanese will visit Fiji on Wednesday for his first meeting with…
Read more »