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Earnings data reconfirms Accord's failure



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MEDIA RELEASESENATOR FRED C H A N EY DEPUTY LEADER OF THE OPPOSITION LEADER OF THE OPPOSITION IN THE SENATE SHADOW MINISTER FOR INDUSTRIAL RELATIONS

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EARNINGS DATA RECONFIRMS ACCORD'S FAILURE

Once again we have the all-too-familiar confirmation of the utter failure of Labor's Accord with the ACTU.

Average Weekly Earnings survey figures released today show that nominal earnings were growing rapidly, even before the impact of the August National Wage Case decision.

At the same time we know that labour productivity growth is at best stagnant.

Perhaps this high money wage/low productivity inflation- creating cocktail is the reason behind the Treasurer's alleged conversion to the need for enterprise-based industrial relations and his reported admission that the Accord has outlived its usefulness.

We can only hope his enlightenment in Japan is transported back home and translates into action.

On past experience however there are no grounds for optimism. Like Senators Button, Walsh and Mr Kerin, Mr Keating is good at saying the right things to appreciative audiences, but a total failure at getting his tired

Government to act.

The tragedy is that the longer genuine reform is delayed, the longer Australian workers and their families will suffer the consequences of inflation and record interest rates and ever-diminishing real wages.

We desperately need an industrial relations system which allows employers and their employees to negotiate directly with each other and which encourages and rewards better performance.

That's exactly what the Opposition's industrial relations policy is all about. It is the only way we'll get the productivity gains necessary for real wage rises, lower inflation and reduced debt.

SYDNEY 16 N ovem ber 1989 Contact:

COMMONWEALTH p a r l ia m e : it a r y lib r a r y MICAH B 25 8 1 7 9