Amidst the release of the Reserve Bank’s August Statement on Monetary Policy and the Albanese government’s upcoming roundtable summit, the issue of productivity growth has become a source of great debate and some controversy.
On Twitter (also known as X), Nationals Senator Matt Canavan posted a chart from the Australian Financial Review showing productivity growth on an average annual basis over the prior rolling 10-year period.
Purely at face value, the graph is not at all favourable for the Albanese government, with the rate of growth dropping rather dramatically shortly after the government’s election in May 2022.
