OPINION: The ACTU’s policy paper released before the Jobs and Skills Summit is full of proposals that will make things worse for those it means to help.
If you thought next month’s Jobs and Skills Summit was going to be about consensus-building, think again. With the release of its first Jobs Summit Series paper, the Australian Council of Trade Unions has fired the opening shot in what is shaping up more as a battle than a summit.
The three main ideas the ACTU proposes are: getting the RBA to focus less on inflation-targeting and more on “full employment”, increasing regulation of the labour market to ensure that “real wages grow at least as fast as labour productivity”, and using a raft of price controls across the economy. Price controls lead to shortages and undermine the ability of companies to increase supply, which is what brings prices back down.
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