Prime Minister Anthony Albanese stays optimistic the nation can emerge in a stronger place regardless of international financial headwinds.
In a significant speech to the Committee for Economic Development of Australia’s State of the Nation convention on Tuesday, the prime minister will say breaking new floor was vital to make sure the nation’s economic system does not go backwards.
“Australia is not immune from any of this uncertainty, but perhaps more than any other country in the world, we have what it takes to emerge from these challenging times in a stronger position,” he’ll say within the handle.
“Not by retreating into ourselves. Not by falling back on the same, failed strategies of the decade just gone. Not by papering-over the cracks exposed by the pandemic or refusing to learn its lessons.
“There isn’t any safety in that, solely stagnation.”
The prime minister will argue the country’s future growth would be dependent on diversifying exports, boosting the workforce and having more women participating in the economy.
Productivity will be at the top of the agenda in order to boost the economy, coming off the back of rising interest rates and high inflation.
“Productivity development is greater than only a field to tick,” he’ll say.
“It’s important for sustaining and sharing financial development, constructing long-run prosperity and enhancing residing requirements, and it is the large workforces that may ship the large wins.”
Mr Albanese will say in the speech areas such as the shift to renewable energy, technological breakthroughs and industries such as aged care would play an important role.
“Better care makes us a stronger nation, as a result of it means Australians reside higher lives. Better care can, and should, drive higher productiveness as effectively,” he’ll say.
“In the last decade forward, we can not accept a scenario the place the fastest-growing sector of our economic system, is delivering zero productiveness development.
“That would only put pressure on other industries to somehow offset the deficit, as well as undermining our future living standards.”
It comes because the variety of folks working in industries comparable to aged and incapacity care is about to double earlier than 2050.
Opposition Leader Peter Dutton may also give a keynote speech at CEDA’s convention afterward Tuesday.
Source: www.perthnow.com.au
