Labor report shows how Australia is ‘falling behind’ most of the world

Australia has turn out to be much less productive however extra indebted beneath the Morrison authorities, in response to a report collated by the opposition.

Opposition MP Julian Hill, who collated the report titled Australia’s World Efficiency: Falling Behind, stated Australia needs to be doing higher.

“Australia is now much less productive, extra unequal, extra corrupt, much less joyful, extra indebted, much less prosperous, and fewer trusting of public establishments than when the Liberal Nationwide Get together authorities was elected in 2013,” he stated.

“As Australia hurtles towards $1 trillion of Liberal debt and a potential federal election this 12 months, Australians have a proper to query how properly they’re doing beneath Scott Morrison.

“World rankings present the Liberals mismanaged the economic system badly earlier than the COVID pandemic, simply as they’re now mismanaging the restoration.”

Graph showing the percentage change in average annual real wages between 2013 and 2019. Source: Report titled Australia’s Global Performance: Falling Behind
Digicam IconGraph displaying the share change in common annual actual wages between 2013 and 2019. Supply: Report titled Australia’s World Efficiency: Falling Behind Credit score: Equipped

Mr Hill stated Australia was “lagging badly behind” in jobs restoration — properly behind greater than 10 Organisation for Financial Co-operation and Improvement international locations that had jobless charges under 5 per cent.

“In 2010, following the international monetary disaster, Australia had the fifth greatest jobs efficiency in the OECD,” he stated.

“But beneath Scott Morrison, Australia is languishing at simply 18th out of 28 OECD international locations.”

However a authorities spokesman stated Labor was attempting to deflect consideration with its report.

“Dressing up outdated, debunked claims on some shiny paper doesn’t make them true and this is an try by Labor to deflect consideration from the reality they don’t have any plan to deal with the well being and financial challenges Australia faces as we emerge from the COVID pandemic,” he stated.

“In contrast to Labor, who’re simply centered on shoring up Anthony Albanese’s job, our consideration is laser centered on delivering jobs for Australians by way of our financial restoration plan.

“Labor have tried to disregard the impacts COVID has had on the economic system and assume the resolution is greater than $300 billion in greater taxes.

“They don’t perceive how we received to the place we’re, so that they don’t have a clue how to assist Australia get to the place we have to go.”

Graph showing labour productivity performance of OECD countries in 2018. Source: Report titled Australia’s Global Performance: Falling Behind
Digicam IconGraph displaying labour productiveness efficiency of OECD international locations in 2018. Supply: Report titled Australia’s World Efficiency: Falling Behind Credit score: Equipped

Some key factors from the report:

  • Actual wages in Australia have been 0.7 per cent decrease in 2019 in comparison with 2013. Australia is third final out of 35 OECD international locations for wage development
  • In 2013, Australian productiveness was rising at 1.7 per cent per 12 months — tenth highest amongst 34 OECD nations. By 2018, Australia’s productiveness was destructive at -0.3 per cent — rating fifth final
  • Australia is the third most unaffordable housing market amongst the OECD
  • Australia’s greenhouse gasoline emissions per capita is the highest in the world
  • The Australian Council for Training Analysis says Australian kids are outperformed by friends in 23 international locations in maths, 12 international locations in science and 10 international locations in studying
  • The typical annual scholar borrowing elevated by 36.7 per cent in 4 years.