Senate Establishes Select Committee into Productivity

Senate Establishes Select Committee into Productivity

The Senate has voted to establish a Select Committee on Productivity in Australia. The Committee is due to present its final report by 30 September 2026.

Amongst other things, the Committee will examine the drivers of productivity growth, including competition law, tax and regulatory burdens, the role of technology and opportunities in both market and non-market sectors. It will also develop benchmarking of Australia’s international competitiveness.

Labor has presided over the worst productivity performance in decades. Since coming to office, productivity has fallen five per cent.

Labor’s biggest economic achievement will be notching up a trillion dollars of debt this term.

The Albanese Government has crashed productivity by burying business under more than 5,000 new regulations and 400 new laws costing $5 billion.

Labor’s much-publicised productivity roundtable achieved nothing.

The productivity figures upon which Mr Chalmers has built his budget are fraudulent. When I asked the Parliamentary Budget Office to apply figures many economists find more realistic, they found a $60 billion black hole.

This inquiry is Australia’s best bet to bring coherence back to productivity policy and to develop the reforms needed to promote investment & growth.

I thank the Senate for establishing this Select Committee.

[Ends]

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