Why dwindling productivity is a big deal for superannuation
Despite having one of the largest pension schemes in the world, the start-ups that can that drive productivity aren’t getting the financial support they need.
Australia’s lacklustre economic growth grabbed the headlines when recent national accounts were released, but the country’s poor productivity performance received a lot less attention.
Output per hour worked – a common measure of Australia’s productivity – fell 0.8 per cent last quarter and was only 0.5 per cent for the year. That’s less than half the rate that Treasury uses (1.2 per cent ) to model the future federal budget position.
