‘Hard to measure and difficult to shift’: the government’s big productivity challenge

Higher productivity has quickly emerged as an economic reform priority for Labor’s second term.

Prime Minister Anthony Albanese has laid down some markers for a productivity round table in August, saying he wants it to build the “broadest possible base” for further economic reform.

The government is right to focus on productivity. Improving economic efficiency will increase real wages, help bring down inflation and interest rates, and improve living standards.