PM enumerates 'five core elements' in the road to recovery
Prime Minister Scott Morrison has recently laid out the government’s economic plan as the country recovers from the impacts of COVID-19.
In a speech delivered before the Western Australian Chamber of Commerce and Industry, Morrison stated that the country has “out-performed major advanced economies,” saying it is 3.4 percent larger than when the pandemic started.
Morrison also noted that 76.3 percent of the working-age population have a job, “the highest proportion of people of working age in jobs in Australia's recorded history.” For him, the number indicates that the national economic plan is working, alluding that high employment is the “ultimate test.”
“Around 260,000 more Australians are in work today than at the start of the pandemic. There are more Australians of working age in jobs today,” he said.
‘Recovery driven by the private sector’
Morrison further elaborated on the government’s economic plan that involves post-COVID-19 economic recovery “driven by the private sector.”
“Now, what we need in this country is business-led growth,” he said.
Morrison laid down five core elements to support the government’s plan. “Our plan is one to create jobs, support future growth and most importantly, resilience across five core elements: keeping taxes low and cutting red tape. That's the first one.”
“Secondly, investing in the infrastructure and skills that Australians need for a growing economy. The biggest challenge our economy faces today is labour force and the skills that that labour force needs to be able to deliver to our economy.”
“Thirdly, it's about delivering affordable, reliable energy that Australian businesses need. Electricity prices fallen by eight percent in the last two years as a result of the policies we pursued, while our emissions have fallen by around 20 percent.”
“Fourthly, it's about making Australia a top 10 data and digital economy by 2030.”
“And fifthly, securing our sovereign manufacturing, our Australian manufacturing capability, so we continue to make things here in Australia, particularly in the areas which are so critical to our resilience, and unlock a new generation of high wage, high skilled jobs.”
Morrison finally called on employers to join the efforts in strengthening the country on a national scale. “The direction we're heading in is one of a stronger Australia. The direction we're heading in is one of a strong economy for a stronger future. The direction we're heading in is the investments and the belief and the backing of Australian businesses and industry,” he said.
