ANALYSIS: The Albanese government has set a high bar by pushing for a tripartite accord on economic policy similar to the one that emerged from Bob Hawke’s 1983 Economic Summit.
Treasurer Jim Chalmers delivers the ministerial statement on the economy on Thursday.However, two special documents will actually frame Australia’s handling of the hammer blows of high inflation, global energy and supply chain crises, and the local COVID-19 resurgence.
According to Chalmers, the September Jobs and Skills Summit is – once again – “all about finding common ground and common solutions to our shared economic challenges”. Interestingly, it was Business Council of Australia chief executive Jennifer Westacott who reminded business figures in a July 20 address in Sydney that the BCA was formed “to bring a unified voice from the business community to Bob Hawke’s National Economic Summit”.
Hawke’s remarkable popularity with the Australian electorate, ability to secure concessions from business and unions, support of his cabinet ministers,long-lasting “let’s open up” advocacy, plus the backing of key Treasury officials, broke the reform logjam. The opening day of the Hawke government’s National Economic Summit in the old Parliament House in 1983.To incubate his new economic order, Hawke called a post-election summit of business, unions and government. According to O’Connor, next month’s summit will “provide pathways” in the same direction – that is, a more co-operative atmosphere.
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