Australia’s peak employer association welcomed the commitments in the budget but said it failed to target the country’s structural economic challenges.
Innes Willox, CEO of the Australian Industry Group (Ai Group), said the budget’s contribution to the productivity agenda was limited to positive initiatives that would boost the workforce over time.
“Today’s federal budget risks tinkering at the edges of Australia’s structural economic challenges at a time when the domestic and global economies are under significant stress,” he said.
The budget outlined Australia’s immediate challenges, including declining growth, rising inflation, rising unemployment, declining business investment, and dramatic rises in electricity and gas prices….