Coalition must dump Treasury’s Three-Ps framework

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After spending four years calling on the Australian Treasury to dump its Three Ps framework, MB has finally received support from Crikey:

[In his speech to CEDA this week, Josh Frydenberg] went back to that faithful stand-by of treasurers all the way back to Peter Costello — an ageing population… [and] to invoke the mantra of successive governments and their Treasury officials: the three Ps — participation, population and productivity…

On productivity, of course, we’ve performed pretty shabbily, with the labour productivity surge under Labor giving way to years of flat or falling productivity under the Coalition…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.