Australia’s housing addicted economy can’t lift productivity

Since the Albanese government returned to power last year, Treasurer Jim Chalmers and other senior government members have focused on productivity.

Perhaps the most notable example of this was the Albanese government’s ‘Productivity Summit’ or ‘Productivity Roundtable’ in August last year.

Since then, the weak productivity growth that has defined much of the last 15 years has continued, with labour productivity falling by 0.6% in the latest national accounts figures through to the end of the March quarter.