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Balance of payments highlights urgent need for IR reform



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John Howard NEWS RELEASE

Member for Bennelong •Shadow Minister for industrial Relations & Manager of Opposition Business in the House IR 41/94

BALANCE OF PAYMENTS HIGHLIGHTS URGENT NEED FOR IR REFORm

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The continued deterioration in Australia's balance of payments is alarming.

It clearly highlights the enormous job of micro-economic reform still to be done in Australia.

Nowhere is this more critical than in the industrial relations arena.

Our low productivity performance is a major contributor to our lack-lustre current account performance and impacts on our attractiveness to investors here and abroad.

The Keating government has failed to deliver a system which taps the Australian workforce's productive potential. In the eighteen months since the election, the government has been in full retreat from industrial relations reform.

Rather than Improving the prospects for industrial performance, it has been busily handing power back to trade union bosses.

The sleazy deal being contemplated regarding uranium policy at the ALP's national conference is testament to that.

It is also exemplified by Laurie Brereton's amendments to the Industrial Relations at which have entrenched the award system and expunged opportunities for workplace flexibility to improve real wages through higher productivity.

Today's abysmal figures re-emphasise the urgent need for industrial relations reform. to Improve Australia's productivity performance.

COMMONWEALTH

SYDNEY PARLIAMENTARY LIBRARY

29/9/94