Anthony Albanese is repeating one of the Hawke’s first acts in government - a summit to discuss the state of the economy and the future of work. | ANALYSIS by Shane Wright
Bob Hawke often said his 1983 national economic summit set the platform for his years of electoral and economic success.
Australia was in the midst of a deep recession with unemployment at 10 per cent and inflation more than 11 per cent. Over a two-year period culminating in July 1983, the number of Australians officially out of work more than doubled. Unions realised the folly of ongoing demands for huge pay rises way ahead of inflation. Business groups eventually accepted they could no long support the closeted Australian economy of the period.
He has played that out on the international stage over recent weeks. Now he is seeking to do that on an economic platform. Albanese is narrowing his summit to about 100 people. If the Albanese summit is to succeed, given the policy failures of the past decade, different voices need to be aired while concessions will have to be made by those who have had the ear of recent governments.
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