Rather than the ACTU’s retro pattern bargaining demands, next week’s jobs summit should endorse a return to the enterprise bargaining system that Paul Keating set up.
that Bob Hawke’s 1983 National Economic Summit had buried as a terminally bad idea.
Even Prime Minister Anthony Albanese, who made wages growth a populist economic issue during the election campaign, responded to the ACTU’s retro demands by insisting that only higher productivity could boost wages without pushing up inflation and the cost of living.
. Only 10 per cent of private sector workers are now covered by enterprise bargaining agreements, with employers reverting to rigid awards amid the futility of talks on flexibility. . Some other advanced economies allow industry-wide wage deals, most recently New Zealand. But only Australia has the highly prescriptive occupation-by-occupation award system, too, that strangles flexibility, innovation and competition.Overlaying the complexity and conflict of industry awards on top would collapse the ACTU’s flawed premise that modest real wage growth is.
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