Fed:Productivity growth key in nation's economic recovery:Rudd
Tue Aug 18 03:39:14 EST 2009
CANBERRA, Aug 17 AAP - Prime Minister Kevin Rudd has pointed to a boost in productivity growth as being key in the nation's recovery from the global financial crisis.
Mr Rudd, addressing the Australian Industry Group's (Ai Group) annual dinner at Parliament House in Canberra on Monday night, said five key areas must be targeted if Australia was to boost productivity growth.
The creation of a seamless national economy could be achieved through changes to the regulatory and competition framework under the Council of Australian Governments (COAG) process, Mr Rudd said.
There must also be infrastructure investment to build the networks necessary to increase exports, as well as investment in innovation through projects such as the national broadband network.
Investment in skills training and tax reform to ensure Australia had an internationally competitive system to encourage investment and job creation were also essential to achieving productivity growth, he said.
Mr Rudd said the government needed to look at ways of carving more out of global growth "which may be more sluggish than it's been for decades past".
" ... There is only one answer, and that is a productivity growth agenda," he said.
