CANBERRA, Nov. 14 (Xinhua) -- Australia’s Treasurer Josh Frydenberg has flagged reforms of how the nation’s states work together with federal governments in a bid to boost productivity.
In a speech to be delivered at the University of Adelaide on Thursday, Josh Frydenberg argued that inefficiencies are putting a handbrake on economic growth and called for the states and federal governments to “row together” in pursuing reforms, according to The Australian Financial Review.
Frydenberg said that Australia has benefitted from the uniformity in states’ approaches to taxation, education and transport laws.
"But despite this progress we should be under no illusions about the inefficiencies that exist in our Federation and the handbrake it represents on our productivity,” he said.
"This is where we can and must do better, knowing full well that a new bucket of money will not make our economy more efficient or businesses more productive.
"As we seek to lift our productivity from its current five-year average growth rate of 0.6 percent, Commonwealth and state governments need to work together and treat the productivity challenge as a national imperative."
The Treasurer advocated for the adoption of reforms called for by the Productivity Commission in a five-year review published in 2017.
The review made 28 recommendations, 22 of which are the sole or joint responsibility of states such as improving efficiencies and reducing duplication in the health and educations sectors.
