Labor wants to boost productivity. Does this mean Australians need to work even harder?

The Productivity Commission estimates that if Australia had been able to maintain a 2.2% growth rate between 1995 and 2023, then the average workers’ income would be $25,000 higher today. Illustration: Victoria Hart/Guardian Design

A historic victory has delivered the Albanese government a mandate to shape the country and the economy based on Labor values.

Simplistically, if the first term was all about investing in important areas such as aged care, health and childcare – while cushioning the hit to households from the surge in cost of living – the second term will be about setting up Australia’s economy for a clean and green future.