“Lifting productivity is going to be a key part of sustaining our recovery and the Federal Treasurer, Josh Frydenberg’s announcement in an address to Ai Group today that the Government will ask the Productivity Commission to deliver an “actionable” roadmap of improvements to productivity as part of its second five-yearly productivity report is most welcome. It is an encouraging recognition of the central place of improved productivity growth to Australia’s future social and economic development,” Innes Willox, Chief Executive of the national employer association Ai Group, said today.
“Ai Group recommended the creation of such a roadmap to be included in the 2022-23 Federal Budget. The roadmap will be an opportunity to build on the recommendations of the first five yearly report delivered in 2017.
“The Treasurer also announced sensible changes to the tax treatment of expenditure on COVID-19 tests for individuals for tests they purchase themselves for work purposes and for businesses who will be able to provide tests to their employees without incurring Fringe Benefits Tax. In recent weeks, Ai Group had proposed these changes be made as we move to a living with COVID footing,” Mr Willox said.
The Treasurer addressed Ai Group members this morning via Zoom.
A full transcript of the speech is available here.
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