Australian Productivity Growth Can’t Reach Its Target Without Change: Treasurer

Australian Productivity Growth Can’t Reach Its Target Without Change: Treasurer
People shop in Pitt Street mall ahead of Christmas in Sydney, Australia, on Dec. 14, 2021. Brendon Thorne/Getty Images
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Jim Chalmers, the new Australian treasurer, said the nation cannot achieve a return to 1.5 percent productivity growth under current policies.

The treasurer said he wanted to have an upfront national conversation on the challenge of increasing productivity, which enables wage growth.